Musk: Tesla Model S Output Speeds Past 400 a Week

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July 11 (Bloomberg) -- Tesla Motors Inc. is building Model S electric sedans faster than its initial 400-a-week goal as demand and the company’s production skills increase, CEO Elon Musk said. Bloomberg's Alan Ohnsman reports on Bloomberg Television's "Money Moves." (Source: Bloomberg)

What is different this year specifically?

What a difference a year makes.

Last year in the fourth quarter , they were running into production snags area they reached a weekly run rate of 400 units per week but they had to do that against great cost and solving supplier issues.

One year on, they are running above the 400 weekly rate.

Elon musk would not get to specific about how many units above that on a weekly basis, but it is not a trivial amount.

One year from now or late next year, they hope to be at 800 units per week, essentially doubling their production out of it within a little more than a year.

We know that the stock market is reflecting a lot of optimism.

The stock has tripled this year and the model s is available for $69,000. while that is not cheap, it is cheaper than some of the other models and what a lot of people thought would be available.

That's right.

And remember that is just the starting point.

If you add all the bells and whistles, the extended battery pack and all of the options, you can certainly go above $100,000. it is the best-performing automotive stock in the world.

The target for deliveries is at least 21,000. the big thing that is happening now is that the car company is eating ready to deliver cars to europe.

European shipments are on the water right now.

Soon to be available in the eu . we know there are a lot of fans of elon musk in the tech community and in california.

You mentioned the 100,000 dollar price tag.

There are a lot of people in silicon valley who can pay that and want to pay that to be part of this vision.

But california is not known for being an auto production state.

How many people are working there right now?

They now, at that plant, which is a 50-year-old facility, they have approximately 3000 employees in the bay area.

That's a bit of a surprise because when he announced in 2010 that he was going to take ownership of that plant, he threw out number of 1000 people.

2000 our assembly workers and they are running to daily ships.

The plant operates 16 hours a day with approximately 2000 assembly workers.

This is california's only auto plant.

We make a lot of things out here, but cars are not one of them.

I heard you mention europe and the expansion plans.

That staying local, what is elon musk's ultimate goal for the plant western mark -- for the plant?

His target this year is about 20 1000 units.

He wants to take it back to the kind of facility -- the kind of capacity the facility had, talking about a half a million units.

No shortage of ambition.

He wants to utilize what is a very large plant.

Thank you very much.

This text has been automatically generated. It may not be 100% accurate.

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