Tesla is set to release its third quarter 2015 financial results today at market close. Management will hold a conference call with Q&A at 2:30pm Pacific Time (5:30pm Eastern Time). You can join on the call through Tesla’s website and join us below the break for live updates: Refresh the page for updates.

6:35 – Thanks everyone for being here!

6:33 – Call is over.

6:32 – 100k Model S and 100k Model X demand per year in the long term dependent on a lot of outside factors – says Musk.

6:27 – Deepak highlights the company’s efficient use of capital.

6:23 – Musk repeats Model X pricing will be similarly optioned Model S + $5,000

6:19 – Musk highlights that Tesla delivered 500 cars per years in 2010 and now 500 in just 2 days.

6:16 – Musk compares owning a car without autonomous driving in 15 years as owning a horse.

6:14 – Tesla aims at exceeding 30% gross margin for S and X within 18 months.

6:11 – Musk: changed goal for drive units to last for 1 million miles instead of 200k.

6:08 – Musk on Diesel-gate: we don’t think that CARB’s regulation are not strong enough.

6:06 – Tesla is now producing its own seats says Musk.

6:05 – Musk: Tesla will use Michigan to acquire top talent in tools and molds.

6:01 – sorry my chrome crashed. I missed ~5 minutes.

5:55 – JB not too worried about GM’s $145/kWh battery cell cost.

5:53 – Musk reiterates about 20 engineering changes to the car per week

5:51 – Musk highlights customer satisfaction.

5:50 – Musk: Tesla will add restraints to where the AP can be activated.

5:50 – Musk: Early data from Autopilot is very positive.

5:48 – the strategy “not fully baked’ for a ride-sharing product – Musk

5:47 – Jonas from MS still pushing on Uber-like service from Tesla, but Musk refuses to comment – says it is a smart question.

5:45 – Aspiration to be positive cash flow in Q1 2016 – Elon

5:43 – Elon explaining basic stuff to analysts as usual.

5:40 – If only a small percentage of Tesla Energy reservations are real, they are sold out until 2017 – says Musk.

5:38 – Model X cancellation are only marginal according to Deepak. Conversion rate from reservations to orders is higher than the with the Model S.

5:36 – Jason Wheeler from Google is the new CFO and Jon McNeil is the new head of service.

5:36 – Musk, Straubel and Deepak are here.

5:34 – The call is starting.

5:33 – the call has yet to start, but investors are liking the results in afterhour trading:

5:29 – I’m back and the call should be about to start.

4:39 – It’s pretty much it for the highlights of the results. Join us in about one hour (5:30pm ET) for updates on the conference call.

4:35 –  The company plans to significantly increase investments to about $500 million in Q4. due to “Gigafactory, further vertical integration of seat assembly and other manufacturing activities, as well as faster milestone execution by certain suppliers for Model X manufacturing equipment and tooling.”

4:30 – Model X ramp up is primarily constraint by the supply of components related to the second row monopost seats.

4:28 – Q4 guidance is in line with low-end of previous 2015 guidance: “In Q4, we plan to build 15,000 to 17,000 vehicles, and deliver 17,000 to 19,000 vehicles, which will result in 50,000 to 52,000 total deliveries for the year”

4:25 – Cash and cash equivalents were $1.4 billion at the end of the quarter, up $275 million sequentially

4:24 – Q3 non-GAAP net loss was $75 million, or a loss of $0.58 per basic share based – Wall Street consensus was a loss of $0.53

4:23 –  operating expenses in Q3 were $363 million on a non-GAAP basis, up 5% from Q2

4:21 – non-GAAP gross margin of 23.7% – GAAP 22.8%

4:20 – GAAP revenue was $937 million.

4:18 – Total Q3 non-GAAP revenue was $1.24 billion for the quarter versus Wall Street’s revenue consensus is $1.21 billion for the quarter.

4:14 – Tesla already started production at the Gigafactory – “Faced with growing demand for Powerpacks and Powerwalls, we have accelerated our plans to expand manufacturing capacity. In early Q4, we relocated production from Fremont to an automated assembly line at the Gigafactory. This positions us for strong growth in 2016, but the Gigafactory pull-ahead will push some Tesla Energy Q4 production and deliveries into Q1.”

4:13 – “Autopilot is so advanced and unique that test drive requests from prospective customers have increased significantly since its introduction. To manage this volume of requests efficiently, consumers can now schedule their own test drives online, representing another industry-first by Tesla.”

4:12 – “Since the Model X launch event, order rates have accelerated for both Model S and Model X. Although it is too early to draw firm conclusions, this supports our belief that Model X expands the market for Tesla vehicles, with little to no cannibalization of Model S.”

4:10 – Tesla expects more growth in China going forward as the company invests in more retail locations.

4:09 – Model 3 unveiling still planned for (late) March 2016

4:08 – Gigfactory is ahead of schedule.

4:07 – “Delivered a record 11,603 new vehicles” – 23 mores than the company had confirmed at the end of the quarter.

4:06 – “Produced a record 13,091 vehicles”

4:05 – Shareholder letter is live.

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