Tesla Reports Record Revenues Of $2.7 Billion In Q1 2017, But Burns Through $623 Million In Cash.
Tesla has released its first quarter results which reveal the company made a record 25,051 deliveries and $2.7 billion in GAAP revenue, beating analyst estimates of $2.61 billion. |
Another highlight of the announcement was an update on the Model 3.
Tesla is gearing up its facilities to build the Model 3 later this year. The company is targeting an output of 5,000 vehicles per week in 2017 and 10,000 vehicles per week in 2018.
Besides discussing the Model 3, Tesla revealed plans to open nearly 100 new retail, delivery, and service stations across the global. Tesla is also slated to open its first company-owned body shops to "significantly improve the customer experience with out-of-warranty body repairs."