Tesla Motors now producing 500 Model S vehicles a week

Tesla Motors now producing 500 Model S vehicles a weekTesla Motors has started producing more than 500 Model S vehicles a week and is working to expand production to meet its targets.

Elon Musk, founder and CEO of Tesla Motors said, "Our big issue is raising production. We don't want to be complacent about demand, but our goal is to increase the pace of production. By the end of next year we want to do 40,000 annually."

In order to meet its target, the company will have to expand production by another 35 per cent. The company is aiming major expansion and has also started taking orders for tis vehicles in one of the largest auto markets in the world, China as demand for the Model S continues to grow acorssvarious markets.

According to reports, Tesla had become the leading seller of rechargeable vehicles in the North American market ahead of General Motors' plug-in Volt and Nissan's battery-powered Leaf. Tesla's 2013 target of 21,000 Model S deliveries is more than the combined global volume for Ferrari, Lamborghini (NSU), and Maserati. The 10-year old company has recorded strong growth in recent years in the competitive market.