Tesla Model X Delayed To Late 2014

While Tesla's Model S sports sedan is garnering all the attention at the moment, anticipation for the company's SUV model is also building. However, it looks like it won't be arriving on time as expected, since Tesla announced that the Model X will be delayed into 2014 and won't be arriving until later that year.

Tesla said that it's delaying production of its SUV in order to keep focusing on its Model S vehicle. Last year, the company said that the Model X would begin production at the end of this year, but the SUV will see around a one-year delay, with deliveries beginning sometime towards the beginning of 2015.

Tesla believes "there is increased volume potential" for the Model S, and in order to take advantage of that, the company will have to put the Model X on the back burner for now. However, the company says that they don't expect a "material impact" on their profitability in 2013 or 2014, thanks to the intense interest in the Model S from consumers.

Of course, Tesla indeed doesn't seem to be having issues with revenue, as their latest earnings report mentions a 500% increase in revenue compared to the previous quarter. The company said that they're at the point where they can ship 20,000 cars per year, even if they only ended up shipping 3,100 vehicles last year.

[via LA Times]