Tesla Model X Postponed; Company Will Repay Loans Early

Tesla’s Model X crossover based on the wildly popular Model S sedan’s powertrain was due to begin production later this year, but this is being pushed back one year to late 2014.

According to the LA Times, the California-based EV maker hopes to repay its $465 Energy Department loan in full by 2017 and ahead of a previously anticipated 2022.

Further, it is selling the Model S in significant numbers – last month HybridCars.com estimated it sold over 1,400 units which for a car costing double the plug-in chart-leading Chevy Volt, is a respectable number compared to the Volt’s 1,626 units sold in February.

Tesla is hoping to deliver 20,000 units this year which would mean it would need to sell 1,667 units on average every month times 12 months.

Its waiting list does keep growing for the S Model, and the waiting list for the X has been accumulating names and deposits as well.

Unfortunately patience is the watchword for those who’d hoped to take delivery of a new Tesla crossover any sooner than late 2014.

LATimes via AutoGuide