Tesla’s long-awaited Model X electric SUV set for September debut
Tesla CEO Elon Musk has confirmed the arrival of the long-delayed Tesla Model X later this year, according to the company's quarterly report.
The electric carmaker plans to launch the seven-seat SUV in September.
In a letter to shareholders on Wednesday (5 August) Musk said there would be a small number of Model X deliveries included in the 12,000 cars that Tesla expects to ship in the third quarter of 2015.
Musk has targeted a combined 55,000 sales of Tesla’s trademark Model S and the new Model X in 2015.
Musk hinted at the challenges Tesla faced in building the new Model X, emphasising quality over quanitity of orders. The new full electric Model X’s launch has been repeatedly hit by delays since it was unveiled in 2012, and there are currently more than 20,000 pre-orders on the all-wheel drive vehicle.
“Simply put, in a choice between a great product or hitting quarterly numbers, we will take the former,” said Musk. “To build long-term value, our first priority always has been, and still is, to deliver great cars.”
Tesla’s second quarter financial report confirmed company losses of around $184m, but the firm is also expected to invest $1.5bn in capital expenditures this year to expand production capacity and continue construction of its massive Gigafactory in Nevada.
Tesla reported earlier in July it had delivered more than 11,500 Model S electric vehicles, a new company record and a 52% increase on the same period in 2014. It was an increase on first quarter sales, up from 10,030.
Elon Musk’s company has also been making moves to set itself up as a leading energy storage manufacturer, with the new energy storage technology thought to be about to revolutionise energy systems.
Tesla’s Powerwall system will be able to deliver 7kw of energy capacity and is priced at around $4,000. The product targets those with their own energy generation capacity, such as solar panels. It will be introduced in the UK at the start of 2016.
© Faversham House Ltd 2023 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.