Tesla is aiming to start production of its Model Y SUV from November 2019, according to Reuters.
Two sources reportedly told the international news agency that Elon Musk’s firm is accepting preliminary bids for contracts, despite offering suppliers few details about the program.
According to Reuters, production will begin in Tesla’s plant in Fremont, California, in November next year, with more cars being made in China two years after that.
Suppliers can reportedly expect annual production of 500,000 vehicles in the US, and a much smaller number – probably in the tens of thousands – in China, the report claims.
In February, Musk said Tesla would aim to produce one million Model Y cars a year, but didn’t give a predicted timeframe.
This figure sounds ambitious even by Tesla’s standards. The company’s Model 3 has so far been plagued by production problems; Musk claimed the company would begin making 20,000 Model 3s a month by December, but in the last three months of 2017 it built only 2,425 in total.
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In recent weeks, the company has attempted to allay concerns about these problems, stating its weekly Model 3 output doubled in the first months of 2018, and that rates would hit 5,000 units a week by the second quarter of this year.
Musk first teased the Model Y in a tweet in October 2015, which he quickly deleted. The car is expected to be an electric SUV built using the same platform as the Model 3.
At the end of January, Tesla revealed a new 10-year compensation plan for Elon Musk that stiuplates the company must have a market value of $650bn for the CEO to reveive the maximum benefit. He’s got his work cut out, because the company’s shares fell in recent weeks to their lowest value in around a year following a fatal crash involving one of its vehicles.