📺 Stream EntrepreneurTV for Free 📺

5 Most Interesting Things We Learned From Tesla's Recent Earnings Report From home repairs to more factories, here's a glimpse at Elon Musk's plans for the car company.

By Nina Zipkin

entrepreneur daily
Olivier Le Queinec | Shutterstock

Tesla on Wednesday released its fourth quarter earnings results, and Chairman and CEO Elon Musk said that the highly anticipated $35,000 Model 3 and solar roofs will launch in the second half of 2017.

At the end of last year, the company had delivered 76,230 cars to customers, lower than its goal of 80,000 to 90,000. Musk anticipates that 47,000 to 50,000 Model S and Model X vehicles combined will be delivered to customers combined during the first half of the year. "We are on track to generate $500M in cash (including growth of non-recourse project financing) by 2019," he wrote.

Here are other interesting things we learned from the earnings results:

Related: If You Crash Your Tesla to Save a Life, Elon Musk Might Foot the Bill

1. Leadership change
The company announced that Tesla CFO Jason Wheeler will be leaving the company in April and will be replaced by his predecessor, Deepak Ahuja, who took on the job in 2008 and left in 2015.

Wheeler said of his departure in a statement from the company: "After spending the last 15 years helping to make information accessible to everyone and to advance sustainable energy, I'm looking forward to continuing to champion these causes and others from a public policy perspective."

2. Inclusive packages
On an earnings phone call, Jeff Evanson, the company's VP of investor relations, said that Tesla has begun offering customers in Asia the option of buying a vehicle with the price of maintenance and insurance included, with plans to provide that choice in other markets.

3. DIY repairs
In his letter to shareholders, Musk wrote that the company had plans to grow its service that lets drivers make repairs at their workplace or home as "80 percent of our repairs are so minor that they can be done remotely."

Related: Elon Musk Personally Cancels 'Super Rude' Customer's Tesla Model X Order

4. More Gigafactories
The company will also be working towards building three more battery factories. "Installation of Model 3 manufacturing equipment is underway in Fremont and at Gigafactory 1, where in January, we began production of battery cells for energy storage products, which have the same form-factor as the cells that will be used in Model 3," Musk wrote. "Later this year, we expect to finalize locations for Gigafactories 3, 4 and possibly 5 (Gigafactory 2 is the Tesla solar plant in New York)."

5. Labor issues
After allegations of mandatory overtime and long hours, Musk said that he did not believe that Tesla factory workers at the Fremont, Calif., plant would unionize and that he was planning to publish his findings about working conditions soon. One stat he reported was that the injury rate in Tesla's factories was less than half of the car industry average.

Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Thought Leaders

It's the End of the Entrepreneurial Era As We Know It

With the rise of advanced technologies and AI, are we losing all sense of the independent business person and entrepreneur?

Business News

These 4 Words Make It Obvious You Used AI to Write a Paper, According to New Research

Scientists are increasingly using ChatGPT and other AI bots to write studies.

Science & Technology

Exploring How Virtual Reality is Changing Startups

Virtual reality's immersive environment is where startup marketing is headed, and early adopters will be the ones who profit.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Side Hustle

He Started a Luxury Side Hustle at Age 13 — Now the Business Earns More Than $10 Million a Year: 'People Want to Help You When You're Young'

Michael Morgan, now the owner of Iconic Watch Company, always had a passion for "old things" — and he turned it into a lucrative venture.

Business News

'They're Scared': PNC Arena Bans New York Residents From Purchasing Tickets Ahead of Rangers, Hurricanes NHL Playoff Matchup

The two teams will face off in Game 1 of the second round of the Eastern Conference fight for the Stanley Cup.