Tesla Motors’ earnings weren’t spectacular, but it set a solid date for unveiling the Model 3: March 31st. However, we likely won’t see all of it — maybe as little as the exterior design. And there’s good reason for that. By Elon Musk’s estimation, Model 3 deliveries won’t begin until the end of 2017.
The company delivered 76% more Model S cars in 2015 — 14,037 in the fourth quarter alone — than it did in 2014, and the company launched the new Model X in 2015, netting $1.75 billion. Despite the less-than-favorable fourth-quarter earnings release on Thursday, the company’s stock jumped 10%, thanks both to its declaration it will have “net positive cash flow” in 2016 and the imminent Model 3 announcement. Read more…
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