Tesla Delays Model X to Repay Loans Early
If you were anxious to take a stroll in the new Tesla Model X, you might want to keep your shirt on for a while longer, as the company's electric crossover has been delayed.
According to Los Angeles Times, Tesla's plans to repay its DOE loans five year ahead of schedule have led to a production delay for the Model X crossover, which is now set to be pushed on the assembly line starting late 2014. Previously, production of the electric crossover was scheduled to begin later this year, with deliveries commencing early 2014.
However, repaying DOE loans earlier that scheduled is not the only reason why the Model X got delayed. Tesla is also looking to increase production for the very popular Model S sedan to 20,000 units this year.
Tesla Motors has received federal approval to complete the repayment of its $465 million in US Energy Department loans five years ahead of schedule (2017 instead of 2022).