Despite mounting losses and Model 3 production still coming up short of profitable volume, Tesla CEO Elon Musk said on Wednesday that the company could begin production of its Model Y crossover in early 2020, but no word yet on where that factory will be located.Speaking with members of the press on a conference call, Musk further predicted that “Model Y is going to be a manufacturing revolution.” And went on to say: “Our understanding of production is improving exponentially.”
On Wednesday, Tesla announced first-quarter losses of $784.6 million on revenue of $3.41 billion, nearly double the losses from the same period of 2017.Model 3 production is up to 2,270 units per week at the Fremont, California assembly plant, which Musk characterized as “jammed to the gills.” That figure is well shy of the 5,000 units Musk has said would be needed to attain positive cash flow.
