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Tesla Suspends Production to Prepare for Electric SUV
Tesla Motors Inc. has halted production at its Model S electric sedan plant to prepare the facility to also make the Model X SUV/crossover EV.
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Tesla Motors Inc. has halted production at its Model S electric sedan plant to prepare the facility to also make the Model X SUV/crossover EV. The company expects to resume production on Aug. 4.
The $100 million update will enable the factory to build both models, which share the same platform, on the same line. Tesla says the expansion will enable it to hike annual output to about 50,000 vehicles next year when the Model X debuts.
Tesla expects to top 35,000 sales of its $75,000 Model S sedan in 2014. Pricing is expected to be about the same for the seven-passenger Model X. The company is targeting annual volume of 10,000-15,000 units for the new vehicle.
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