Name: Tesla charges ahead
Uploaded: 2014-07-31
Duration: 1 min 12 s
Description: Tesla reports strong Q2 earnings trumping Wall Street estimates.

[ MUSIC ] Woo. Electric car maker Tesla continues to deliver. Tesla reported adjusted earnings of $ 0. 11 a share, beating the consensus estimate of $ 0. 04. Revenue came in at $ 857 million, surpassing estimates of $ 813 million. Just the motor's stock is up 52 % on the year. CEO Elon Musk has reported that his company is on track to make 35, 000 Model S vehicles this year. In April, Tesla began delivering in China. And we're very pleased to start the delivery of the right hand drive Model S here in Hong Kong today. Last month. Britain received their frist shipment. Hess's electronic cars run on lithium ion batteries that fuel up on super charger stations popping up across the country and the world. We really are serious about the super chargers being free forever. Tesla also continues to trim their supply chain cost, and are moving toward a vertical integration model. Earlier today, Tesla and Panasonic announced their agreement to build a roughly $ 5 billion plant called the Gigafactory somewhere in the US, which has several western states vying for the coveted prize. Mazda predicts the new factory will produce batteries for half a million vehicles by 2020. [ MUSIC ]

Tesla reports strong Q2 earnings trumping Wall Street estimates.