Tesla Motors Incorporation Is All Set To Grab Its Market Share
Tesla Motors is leaving no stone unturned to make sure that its status as the leading electric car manufacturer remains intact. According to the latest news, Tesla Motors Incorporation has completed all the up-gradation work at its factory site in Fremont, California. It is worth mentioning here that the company is well ahead of its deadline, which means that it can profit from a production increase in the current year as well.
Tesla Motors Incorporation, one of the leading electric car maker companies, closed down its factory site in California in the summers for a period of 2 weeks. The company was planning to revamp the plant’s structure in order to accommodate the Model S vehicle’s full wheel drive.
The company has not only upgraded the site, it has also given a boost to its production capacity, which will help the automaker increase it supplies when global demand for electric cars increases. Moreover, the factory can be used for the production of Model X vehicles.
Furthermore, Tesla Motors can see high growth rate if its project with BMW goes smoothly. News has it that both the company have entered into an agreement whereby Tesla Motors Incorporation will provide its battery technology and BMW will come forward with its carbon fiber technology. Both the companies want to change the future of car batteries.
According to the estimates of Tesla Motors Incorporation, the company was successful in manufacturing 22,000 vehicles during the year 2013. As for the current year, the company is set to manufacture around 35,000 cars.
If all the estimates are met, the company can build around 85,000 vehicles by the end of the year 2015. It is important to mention here that this number does not only include Model S, but it will also include Model X’s production. However, the bulk will still consist of Sedans Model S.
Tesla has upgraded its assembly lines with a special focus on the automation. The company now has robots that will lift whole of the vehicles and position them at different angles so that vehicles’ components can be assembled easily. The process of installation of battery powers has also been made automatic.
The Fremont factory of Tesla Motors Incorporation can accommodate even greater volumes. The company should consider using the site to its fullest in order to make the most out of it.
It is important to mention here that Tesla Motors Incorporation also has an ongoing factory project in the region of Nevada for its Gigafactory. The company was offered sites in California, Arizona and New Mexico, but instead it chose Nevada due to the tax incentives and credits of almost $1.4 billion. Once the Giga factory project is complete, the company will be able to pump around $100 billion in the local economy with the creation of as many as 22,000 jobs.
Coming to the stock prices of Tesla Motors Incorporation, the company, on the last trading day of November 27, 2014, started its stocks at a price of $248.34 and closed at a price of $248.44.