Tesla
i i a cash increase in our cash and cash equivalents balance to operating cash flow less free cash flow profitability operating income operating margin net income non net income automotive gross margin operations shanghai ahead of schedule trial production started model ahead of schedule production expected by summer record vehicle production of and deliveries of record storage deployment of and solar growth last year our story was about ramping the model while total volumes are expected to grow by approximately in this year our focus has been cost control and preparing for our next phase of growth despite reductions in the average selling price asp of model as global mix stabilizes our gross margins have strengthened additionally operating expenses are at the level since model production started as a result we returned to profitability in while generating positive free cash flow this was possible by removing substantial cost from our business we have also dramatically improved the pace of execution and capital efficiency of new production lines shanghai was built in months and is ready for production while it was less expensive per unit of capacity to build than our model production system in the us continued volume growth and cost control are an important combination for achieving sustained industry leading profitability highlights summary | Tesla
Company
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Deck date
October 2019
Slide
3 of 28
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