Shareholder Letter news on the Model X:
We are excited about how the design and functionality of the Model X is beginning to mature. Our vision for the Model X is a vehicle
that combines the functionality of a minivan with a design as cool as an SUV. We remain on plan for an exclusive showing later this year.
Since we are leveraging the Model S architecture and powertrain for Model X, we continue to anticipate that Model X can be brought to
production quickly for first customer deliveries in late 2013, with volumes ramping to 10,000—15,000 units per year beginning in 2014,
and at prices comparable to Model S. Importantly, much of the equipment we are currently installing at the Tesla Factory for the Model S
will also be used for the Model X.