Tesla almost triples Model 3 production from the previous quarter

03 July, 2018, 06:33 | Author: Darnell Patrick
  • Tesla 'real car company' after hitting Model 3 goal, Musk says

Tesla had said it would produce 5,000 Model 3 cars a week by the end of the second quarter of the year.

In financial reports that same month, Tesla reasserted its pledge of 5,000 Model 3 units per week.

As such, Spak reiterates a Sector Perform rating on Tesla stock, with a price target of $280, which represents a potential downside of almost 20% from where the stock is now trading. The electric automaker also faced scrutiny for the large tents it had set up near its Fremont plant that housed some of the Model 3's assembly line components.

Musk has acknowledged the production struggles on Twitter, where he discussed sleeping at the factory while also blasting out photos of the tented assembly line, as well as armies of seats and other vehicle supplies destined for Tesla cars. To reach its goal Tesla added to its manufacturing line by building cars temporarily under a tent.

"In the interim, we do not see this production rate as operationally or financially sustainable", said CFRA analyst Efraim Levy.

In another bid to push the limits of technology, Tesla at times pulls robots off the line and tests them operating at speeds greater than specified by the supplier, said Charles Mwangi, Tesla's director of body engineering. "I don't believe their goal was to simply hit 5,000 a week and somehow revert to a lower production rate in the future", Albertine said. If all goes well, the scale of Model 3 production could make that possible, producing consistent profits that Musk can then plow into forthcoming projects like the Semi, the Model Y, and the new version of Tesla's high-end Roadster sports car-thereby avoiding the huge cash flow swings of the last few years. That, Tesla points out, is a 55-percent increase over Q1 2018, and in fact "the most productive quarter in Tesla history by far".

"I think we just became a real vehicle company", Musk wrote.

"We did it! What an incredible job by an unbelievable team".

Tesla finally met the production goal for its mass-market Model 3 electric auto - producing 5,000 in one week.

Tesla filed a lawsuit this week against a former employee that Elon Musk claimed had engaged in sabotage, in a companywide email sent by the Tesla CEO last week. Couldn't be more proud to work with you.

No standard automotive solution could be built in time, so we created a new solution. Model 3 production for the three month period hit 28,578 cars - more than Model S and Model X combined - a three-fold increase over Q1.

A 2018 Tesla Model 3 electric vehicle is shown in this photo illustration taken in Cardiff, California, U.S., June 1, 2018. But for years, the key question for Tesla was could it deliver consumers a more affordable EV for the masses.



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