Tomahawk, WI 2/25/2014 (Basicsmedia) – Tesla Motors Inc. (NASDAQ:TSLA) is planning to increase the production of its S Sedan model in a bid to cater for increased  demand in overseas markets, a move that should further propel its growth metrics. Tesla fourth quarter results were more than impressive surpassing analysts’ consensus of which Tesla is planning to build on. The company is also planning to set up a battery plant.

Tesla Motors Inc. (NASDAQ:TSLA) plans to increase the production of S Sedan model by as much as 56% in the current fiscal year  as it expects  sales of the vehicle to reach highs of 35,000 as markets in china start opening up, last year the company recorded sales amounting to 22,450 on the model alone. The company also announced that output will be increased to a total of 7,400 vehicles; deliveries are currently being limited by shipping hours to overseas market and should come in at 6400 vehicles. Tesla continues to perform exceedingly well in the market and was recently honored for its electric model S that was a revelation in the market.

Tesla to update its Gigafactory

Tesla Motors Inc. (NASDAQ:TSLA) has announced a plan to update it’s a Gigafactory with analysts speculating of what the company might say on an upcoming conference call concerning the matter. The conference call is sure to be a catalyst in the coming trading sessions, taking into consideration what Tesla might say concerning the project.

It is being rumored that the Gigafactory could be huge enough, with an estimated 30 GWh capacity enough to power between 353,000 and 500,000 vehicles depending on the size of the battery. Generation III vehicle is expected to benefit more from the upgrade. This is a result of Tesla planning to reduce the costs of batteries by 30% in a bid of making the car more feasible affordable and economical.

Tesla Motors Inc. (NASDAQ:TSLA)’s shares moved up by 3.84% on Monday trading session to close at highs of $21.65.

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