Tesla Motors, which first unveiled the Tesla Model X crossover way back in February of 2012, is pushing back the release date for the electric crossover yet again. This time, the company is claiming that deliveries ought to begin during the third-quarter of 2015, rather than the previously-planned Q2 release.
This is mostly the result of continued testing and validation, according to Motor Trend. Tesla Motors addressed its shareholders in its quarterly earnings statement, essentially saying that the company’s culture will not permit them to release a half-baked Tesla Model X.
But as a result, the automaker is posting a loss of $75 million for this quarter, despite a revenue of $852 million, almost double the revenue from the same quarter last year. Tesla Model X research and development costs are partly to blame, as they’ve increased a full 28 percent. The all-wheel drive and autopilot features on the new “D” Model S sedans are also partly to blame, although those likely constitute an essential stepping stone along the road of the Tesla Model X’s development.
As Tesla Motors finds itself in a delicate situation forging new territory, battling anti-competitive legislation nationwide, and attempting to ramp-up the production of very expensive technology, we think that Tesla Motors’ strategy of “wait until it’s fully-baked” is the right one. An interrupted product gestation rarely ever aids the product maker, and certainly never aids the product.
Based on Wall Street’s mostly nonchalant response to the negative earnings report, they seem to agree.