The automaker predicts it can produce 7,000 vehicles per week, which would enable it "to become sustainably profitable for the first time in our history."
"It is clear that Tesla is under tremendous pressure to finally turn a profit and is attempting to address it by cutting overhead."
The fourth quarter "was a breath of fresh air for investors that have patiently awaited for this turnaround story to manifest after years of pain."
The beleaguered bank's shares fall 2.7% after it reports Q3 net income fell to $4.6 billion from $5.6 billion one year ago while EPS misses estimates.
The automaker has been "under pressure to get specific about cost cuts” amid investor concern over its stock price.
Q1 revenue fell 4% but the company says such fluctuations are to be expected as it focuses on growing gross profit.
The US-China Business Council reports 90% of firms were profitable last year but business confidence continues to decline.
The bank's profit continues to be weighed down by low interest rates, with net interest margin falling to 2.86% in the second quarter.
Finance’s role in improving enterprise profitability is expanding.
