Tesla Model 3 production reaches 5,000 cars in last week of June

Tesla Model 3 production reaches 5,000 cars in last week of June

Musk also said Tesla had produced 2,000 Model S sedans and Model X sport-utility vehicles in addition to the Model 3s, bringing total production to 7,000 vehicles a week.

In an email sent to employees, Musk said that the company had reached its production target for the Model 3 and is aiming to produce 6000 Model 3s a week in July. He also added, how through the staff's joint efforts, the company was able to achieve a "combined 7000 vehicles a week", together with the production of Tesla's Model S auto and Model X SUV.

Model 3 production has now tripled to a total of 28,578 cars in the second quarter, as its remaining net reservations stands at roughly 420,000.

Scaling up production of Model 3s has created a host of issues for the company, as it missed several manufacturing goals in past months and pushed critics to question its future viability.

TipRanks indicates Wall Street is evenly split between a battle of bulls vs. bears on this electro vehicle giant giant.

"We did it! What an incredible job by an unbelievable team", Musk wrote to employees in an email.

Tesla stock rose 10 per cent on June 6 when Musk said he was on track to hit the 5,000 weekly target and it continued to rise for much of June ended trading Friday 17.8 per cent higher than its June 5 close.

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Musk added, "I think we just became a real auto company".

To meet its goal, Tesla had set up a new production line inside a tent on the campus of its Fremont factory.

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

"We expect that GA3 alone can reach a production rate of 5,000 Model 3s per week soon, but GA4 helped to get us there faster and will also help to exceed that rate", Tesla said in a statement released Monday.

Doug Field, Tesla's second most senior engineer at Tesla after CTO JB Straubel, has been on leave from the automaker since May, but we now learn that he will not be returning at Tesla. Bloomberg reports that the standard battery version of the auto, starting at $US35,000, still isn't available in the design studio, so customers can either order a higher-priced version, continue to wait, or cancel their order. Model 3 Dual Motor All Wheel Drive and Model 3 Dual Motor All Wheel Drive Performance cars will also be available in our stores shortly.

The filing comes after Musk tweeted late Sunday that Tesla's team produced 7,000 cars in seven days. "These cuts were nearly entirely made from our salaried population and no production associates were included, so this will not affect our ability to reach Model 3 production targets in the coming months".

"As we previously noted, we are in the process of changing the quarterly production pattern of those vehicles for the various worldwide regions to ensure a more linear flow of deliveries through the quarter".

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