Sales of the Tesla Motors Inc (NASDAQ:TSLA) Model S are in line with expectations, it was revealed in a report on Bloomberg’s On The Move.
According to Jonathan Ferro, Tesla Motors Inc (NASDAQ:TSLA) has hit analysts estimates for sales of their Model S vehicle.
“Tesla, their Model S sales matched analysts’ estimates. The company begins deliveries in China. CEO Elon Musk warned in May that tight supplies of lithium-ion batteries would weigh on deliveries. Tesla is aiming to deliver more than 35,000 cars this year and reach a run rate of 100,000 by the end of 2015,” Ferro reported.
Meanwhile, Tesla Motors Inc (NASDAQ:TSLA) recently made headliners after it and Japanese company Panasonic Corporation have agreed to collaborate in the building of what is being fondly called as the “Tesla Gigafactory” to produce batteries for the car-maker’s vehicles.
Tesla Motors Inc (NASDAQ:TSLA) is aiming to produce batteries at this large plant to reduce costs of its cars. This is particularly important for the company since it aims to produce a mass market car called the Tesla Model 3.
Furthermore, this large-scale Tesla Motors Inc (NASDAQ:TSLA) plant will alleviate shortages for lithium-ion batteries needed for increased production of cars by the company.
Meanwhile, Ferro also reported on the shares of Iliad SA (EPA:ILD) taking a beating after it announced a bid to acquire 56.6% of T-Mobile US Inc (NYSE:TMUS). The French company has revealed that it offered the U.S. carrier $15 billion in the bid.
Furthermore, Ferro also said that LinkedIn Corp (NYSE:LNKD) sales forecast for the third quarter of the year has beat expectations which has sent the stock higher in after-hours trading.