Print Edition - 2017-01-06  |  Money Digest

Tesla output surges 64pc


Jan 6, 2017-

Electric carmaker Tesla said Tuesday production last year surged 64 percent compared to 2015, but the company missed its delivery target for the final three months of 2016. Tesla produced 24,882 vehicles in the final quarter of the year, resulting in total 2016 production of 83,922 vehicles. Because of issues around the transition to new Autopilot auto-driving hardware, “production was weighted more heavily towards the end of the quarter than we had originally planned” and nearly 2,800 vehicles were not delivered, the company said in a statement. As a result, the share price fell 1.83 percent to $213.02 around 22.00 GMT in after-hours trading. However, the company said it hit its production goal and had 6,450 vehicles in transit to customers that will count towards to first quarter delivery total. Even if the vehicles were fully paid for, they did not count the deliveries. (AFP)

Published: 06-01-2017 09:13

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