Tesla Inc. has recorded the best quarterly production and has beaten analysts’ estimates. Now preparations have begun for Model 3 in July by Chief Executive Officer Elon Musk.
Tesla, a well-known manufacturer of energy-storage devices and electric cars, has set a record by shipping over 25,000 vehicles in the first quarter of the year. By topping an average estimate of 24,200 from three analysts, Tesla is targeting to deliver as many as 50,000 vehicles in 6 months.
Tesla’ actual production in the first quarter was 25,418 and has delivered about 13,450 Model S sedans and 11,550 Model X sport utility vehicles.
With this, Tesla’s shares have been pushed by investors by 30% this year. Also, Tencent Holdings Ltd., Chinese Internet giant, has taken a stake of 5%, watching the growth. Tesla’s $45.4 billion market value is just $870 million that is less than the Ford Motor Co., which delivers millions of vehicles per year.
“It’s all about the Model 3 right now, but this is very good news,” Ben Kallo, an analyst at Robert W. Baird & Co., said in an interview. “25,000 units is the best we could have thought, and people are looking at Model 3 for growth.”