Tesla will likely produce its upcoming Model Y crossover SUV at its Gigafactory in Reno, Nevada, the automaker said on Wednesday. Volume production of the vehicle will begin by the end of 2020.
"This year we will start tooling for Model Y to achieve volume production by the end of 2020, most likely at
Gigafactory 1," Tesla said in its fourth-quarter earnings letter.
Business Insider reported in December that Tesla planned to produce 7,000 Model Ys per week at the Nevada Gigafactory, known as Gigafactory 1, by December 20, 2020, and 5,000 Model Ys per week at its upcoming factory in China, known as Gigafactory 3, by February 2021.
A Tesla representative said at the time that documents viewed by Business Insider describing the production timeline were out of date.
Tesla on Wednesday announced its earnings from the fourth quarter of 2018. The automaker posted adjusted earnings of $1.93 per share on revenue of $7.23 billion. Wall Street analysts had expected adjusted earnings of $2.10 per share on revenue of $7.1 billion
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