TSLA: Tesla Adds Robots, Revamps Calif. Plant for Model X SUV

Upgrades will boost Tesla production by 25%

   

TSLA: Tesla Adds Robots, Revamps Calif. Plant for Model X SUV

Tesla Motors (TSLA) is shutting down its California factory to makes upgrades.

Tesla185 TSLA: Tesla Adds Robots, Revamps Calif. Plant for Model X SUVThe Tesla factory located in California is only being shut down temporarily while the company upgrades it and adds more robots. The shutdown is expected to last for two weeks. The company decided to add more robots to the factory because it was having trouble keeping up with orders for its Model S and it wanted to prepare for the production of the Model X SUV, reports International Business Times.

Tesal will spend $100 million to upgrade its California facility. This will add an additional 25 robots to the factory’s workforce and is expected to increase production by 25%, Bloomberg reports.

The changes coming to the California plant will be the first major expansion since Tesla bought it in 2010. Most of the 370-acre plant is currently being unused. The company will go into greater financial detail concerning the temporary shutdown of the plant during its second quarter earnings report, which will be released on July 31, International; Business Times notes.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/07/tsla-tesla-12/.

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