The ramp of Tesla's battery Gigafactory is "continuing at pace" as the company scales production to meet growing stationary and e-mobility battery demand. In its latest quarterly letter to shareholders, Tesla has announced that its Gigafactory "construction and implementation" is on track, allowing production of its lithium-ion battery cells to commence at the site by the end of this year.
While strong orders for its new look Model S electric car and "overwhelming demand" for its Model 3 featured heavily in its Q1 statement, Tesla noted that it has also continued to scale up shipments of its Powerwall and Powerpack products.
In Q1 2016, Tesla reports having shipped 2,5000 Powerwalls and almost 100 Powerpacks. It is shipping to customers in North America, Asia, Europe and Africa; it reports in its Q1 statement.
Tesla Motors reported revenues of $1.026 billion in Q1, with additional revenues of around $121 million from what it classes as "services and other" sources. Tesla Energy revenues are not provided. Tesla recorded "cash outflow" of $250 million in Q1 2015, however, with revenues of $242 million from its leasing partners, it claims to have achieved "nearly breakeven" GAAP cash flow.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.