Musk confirms Tesla Model 3 in Australia, UK by mid 2019

A 2018 Tesla Model 3 electric vehicle is shown in Solana Beach California

According to the Journal, Tesla the FBI "has intensified" its investigation into whether Tesla misstated data on the production of its Model 3, its lowest-priced sedan.

Tesla Motors delivered on CEO Elon Musk's promise to make money during its latest quarter after fulfilling his pledge to boost production of its first electric vehicle designed for the mass market.

Tesla said that delivery and logistics were the biggest challenges within the third quarter but was able to quickly work around it by making improvements.

For the third quarter, Tesla reported revenue of United States dollars 6.82 Billion, increasing 128.9% year over year and topping estimates of USD 6.33 Billion.

The expectations beating earnings report comes after a period of intense trouble for the vehicle maker.

The Model 3 was delivered in record numbers during Q3, which raised the company's profit margins by 20 percent.

Model 3 cars start at about US$50,000, despite a Tesla goal of making an electric vehicle priced for the masses. Shortening the time cars are in transit so that revenue can hit the books more quickly would shorten its cash conversion cycle, boosting cash flow. Further meaning, it fulfilled Musk's promise that the company would move into the black and production of Model 3 sedans would pick up speed.

Musk said his aim is to get the Model 3 price down to US$35,000, with a production cost of less than US$30,000.

Royal Tour: Prince Harry and Meghan Markle in Tonga
Samantha continued, telling the public to "stop enabling" her half-sister and, "Do not ever reward a lie". A meeting with Tonga's king and queen was followed by traditional dancing and singing at an evening party.

At least 17 dead, dozens missing in Dead Sea floods
Also among the dead were passers-by who had been picnicking in the area, he said, adding that a nearby bridge had collapsed. The private-school students and their adult chaperones were touring near the Dead Sea when the floods carried them away.

Virat Kohli become fastest batsman to 10,000 ODI runs
Hope, who registered his second ODI ton, kept chipping away despite some tight bowling by the Indian pacemen and Holder´s run out. The spinner then bowled seasoned Marlon Samuels (13) to leave the visitors in a spot of bother at 78 for three in 12 overs.

"We can actually be cash flow positive and profitable in all quarters going forward", Musk said, suggesting that the previous quarter's financial results show a sign of things to come.

The Model 3 would be available in Australia and the United Kingdom in about the middle of next year, he said yesterday.

"We reaffirm our prior guidance that we expect to again achieve positive GAAP net income in Q4", Musk and Ahuja said in a letter to shareholders. In fact, he expected the company's cash flow position to be strong enough by early next year it may start paying down debt.

In Wednesday's conference call, Musk brushed aside a question about the attributes that Tesla wants in its next chairman, who is supposed to be appointed by mid-November under the SEC settlement. It will let customers loan out their cars to users, as well as include a fleet of self-driving cars that can pick up passengers. As of 9:58 on October 25, Tesla shares are up 9.38 percent at $315.56.

He assured analysts that Tesla was not starving new vehicle development to feed profitability.

Musk has previously said the Model Y could be produced as soon as March 2019 - albeit in a tongue in cheek tweet from May 2018, in which he threw out the date March 15 as a reference to the Ides of March (perhaps because the introduction of a Tesla SUV will amount to the assassination of other carmakers?). It produced charts showing that the Model 3 was the top-selling US luxury auto during the first half of the year, more than doubling its closest competitor, the Mercedes C Class.

"We will also have a factory in Europe long term, because it is pretty silly to make cars in California and ship them to Europe", Musk said.

Related news:

Hot News

isis-killer-beheading-video-story-top United contest FA charge against Mourinho
Oct 27, 2018 - 00:50
Paulo Dybala scored the only goal of the game where the Red Devils struggled to lay a glove at the Old Lady. Jesse Lingard, who suffered a groin injury a month ago, may return against Everton.

isis-killer-beheading-video-story-top Bombs sent in mail to Barack Obama and Hillary Clinton
Oct 27, 2018 - 00:43
A fourth package was discovered Monday addressed to liberal billionaire - and boogeyman for some conservatives- George Soros . CNN moved its stream to Washington DC as reporters were forced to evacuate their NY building during a live broadcast.

isis-killer-beheading-video-story-top Man arrested trying to steal Magna Carta from UK cathedral
Oct 27, 2018 - 00:38
A statement from the cathedral said the Magna Carta has been removed from display "for the time being" and apologised to visitors. But, with its display case damaged, the cathedral said the Magna Carta will be taken out of public view for the moment.

isis-killer-beheading-video-story-top Jamal Khashoggi: UK to revoke visas of suspects in killing of journalist
Oct 27, 2018 - 00:16
Saudi Arabia's powerful crown prince has called the killing of Jamal Khashoggi a " heinous crime that can not be justified". Turkish pro-government media has claimed that Ankara has audio tapes of the killing.

isis-killer-beheading-video-story-top Smithtown man threatened senators over Kavanaugh
Oct 26, 2018 - 01:16
Although Stephan said he believes the evidence on both sides were too insufficient for a verdict, he feels for Ford. The Democrats appear to have since thought better of selling the Supreme Injustice shirt.

isis-killer-beheading-video-story-top Microplastics Can Find Their Way Into Your Gut, Study Says
Oct 26, 2018 - 01:10
If we're taking plastic in on one end, and we can't digest it, it's expected and logical that we'd see it on the other end, too. By the World Economic Forum's estimation, the world's oceans will be filled with more plastic than fish by weight by 2050.

isis-killer-beheading-video-story-top Kate Middleton Wears Princess Diana's Tiara to State Dinner at Buckingham Palace
Oct 26, 2018 - 01:09
The saying goes "dress for the job you want, not the job you have", and Kate Middleton apparently takes that to heart. Prince Harry and his wife Meghan are on day eight of their 16-day tour of Australia and the South Pacific.

isis-killer-beheading-video-story-top How marrying Kanye West has affected Kim Kardashian
Oct 26, 2018 - 01:02
Unfortunately for the "Keeping Up With The Kardashian" star, the thieves got away with a whopping $6.1 million worth of jewelry. But I'd say eight month later, I had probably my best body ever.

isis-killer-beheading-video-story-top United States withdrawal of INF treaty paves way for new arms race
Oct 26, 2018 - 00:56
In the meetings, Qureshi tried to convince the US leaders that Pak-US cooperation was vital for regional peace in South Asia. However, he noted that the 29 allies were assessing "the implications of the new Russian missile for our security".

isis-killer-beheading-video-story-top Al Roker Schools Colleague Megyn Kelly After Inane Commentary On Blackface
Oct 25, 2018 - 06:44
She later brought Luann de Lesseps , a star on The Real Housewives of NY , who drew criticism past year for dressing up as Diana Ross .

isis-killer-beheading-video-story-top Derek Carr’s Future As Raiders QB In Serious Doubt; Here’s Why
Oct 25, 2018 - 06:28
The Oakland Raiders shipped off former first-round picks Khalil Mack and Amari Cooper in jaw-dropping trades this season. The Raiders (1-5) are coming off a bye week and have only one win this season against the Browns on September 30.

isis-killer-beheading-video-story-top Trump says he 'agrees with Obama 100%' on old immigration statement
Oct 25, 2018 - 06:28
They make it harder for young people, and minorities and the poor to vote, and that entrenches their power further, he said. Obama also touted the campaigns of Nevada gubernatorial candidate Steve Sisolak and U.S.

Red Dead Redemption 2 Companion App Announced, To Release This Week
Oct 25, 2018 - 06:26
Rockstar mentioned that even more will be included in the app, which is up to players to discover when the game launches. First Red Dead Redemption 2 brings back cowboy boots and scruffy beards, now it's bringing back companion apps too .

isis-killer-beheading-video-story-top Markets Right Now: Stocks plunge, erasing gains for the year
Oct 25, 2018 - 05:51
Traders also had to deal with reports that potential bombs were sent to two former US presidents and the NY headquarters of CNN. Helped by tax cuts, the economy expanded at a 4.2 percent annual pace from April through June, fastest in almost four years.

isis-killer-beheading-video-story-top Saudi crown prince breaks silence on 'heinous' Khashoggi killing
Oct 25, 2018 - 05:47
Reports emerged about a Saudi hit squad killing and dismembering the journalist - allegedly on the orders of the crown prince . France also weighed in, saying it would take " punitive measures " if Saudi Arabia was "proven" to be behind the murder.