• 4 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 10 minutes IT IS FINISHED. OPEC Victorious
  • 16 minutes GOODBYE FOREIGN OIL DEPENDENCE!!
  • 3 mins Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 17 hours The Great Climate Change Swindle
  • 3 hours End of EV Subsidies?
  • 7 hours Price Decline in Chinese Solar Panels
  • 4 hours Maersk's COO statment.
  • 1 day S. Australia showing the way
  • 45 mins Trump accuses Google Of Hiding 'Fair Media' Coverage of him
  • 1 day More OPEC Members May Leave
  • 18 hours China Builds LNG Icebreaker
  • 21 hours Exxon buys green power.
  • 4 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 2 days I Believe I Can Fly: Proposed U.S. Space Force Budget Could Be Less Than $5 Billion
  • 2 days Qatar Leaving what is the effect on prices
Is This The Next Disaster For Canadian Drillers?

Is This The Next Disaster For Canadian Drillers?

The Canadian oil industry can’t…

Oil Prices Tank Despite Large Crude Draw

Oil Prices Tank Despite Large Crude Draw

Oil prices fell on Thursday…

Tesla’s Model Y To Launch In November 2019

Tesla Model Y

Despite the troubles around the ramp-up of its Model 3 production, Tesla is already eyeing the launch of its next model, the Y, in November next year, two unnamed sources told Reuters.

This will be the carmaker’s first sports utility vehicle, and the company is currently accepting preliminary bids from suppliers. This is yet again a demonstration of Tesla’s aggressive approach to deadlines.

As Reuters notes, the competitive bidding process for car part suppliers usually takes between two and two and a half years. If, however, the start of production for the Model Y is slated for November 2019, this gives bidders little more than a year and a half to come up with their best offer.

Yet this time the shorter timeframe might just work, one of the sources said, because the Model Y will be assembled on the same platform as the Model 3. This will only be the initial production, however, as the factory in Fremont is not large enough to handle the annual target of one million Model Ys Tesla has set.

Capital spending on the Model Y will begin in late 2018, and observers are wondering if that won’t prompt Tesla to raise fresh funds given its unenviable cash position right now. Elon Musk said last month that Tesla does not need any more cash injections this year. But some analysts, notably Moody’s, said the carmaker would need more cash—and soon. Moody’s estimated its needs at US$2 billion, after last year Tesla went through US$3.4 billion.

Some are wondering if this is the best time to work on yet another model before production of the Model 3 has ramped up. Others are questioning the 1-million Model Y target, with Reuters’ sources suggesting that the suppliers that will bid for the project are probably estimating actual annual production targets of half that number.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • T T on April 12 2018 said:
    According to my count, this will be their 2nd SUV after the X.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
-->