Tesla’s third quarter financial results had a surprise for the customers. Not only did Musk talk about the profit the company earned in the last quarter but he also revealed that the Model Y Prototype had been approved for production. He also stated that the prototype wouldn’t be on a large scale production until the year 2020.
“We’ve made significant progress on the Model Y,” Musk said in a call with investors and analysts, following news of the company’s first proftable quarter in two years.
When it comes to new models, the automotive industry has never disappointed its customers. The CEO did not offer any detail about the development of Model Y until today. There were also delays in the development of this prototype as Tesla couldn’t find a place to build a factory for the process of production.
The company is already making a tent in the parking lot at the factory in Fremont, California to meet the demands of Model 3 Sedan. The company needs time and money to facilitate the production and assembly line of its cars. At the moment, the company is only producing cells in automobiles and other energy products for Model 3 in Nevada.
The government filed the documents this week in Shanghai. The report mentioned Tesla’s plan to manufacture two different cars. One will be Model 3 which, according to Musk, would be in the production line at the end of 2019. The other automobile is Model Y set to release in 2020 as two cars cannot be in the production process at the same time due to the aforementioned constraints.
The automobile Model Y is a massive opportunity for Tesla. The corporation has made a success with their Model 3 representation in spite of the struggles with the production process.
Musk also mentioned he is very excited about the upcoming vehicle: a pickup truck. So, that means we have a pickup truck lined up right after Model Y. Musk stated, “I think that’s going to be some next level stuff there.” He also added, “I think we’ve got the most exciting product roadmap of any company on Earth by far.”
Stay tuned for more updates!