Tuesday, 17 July, 2018

Tesla Achieves Q2 Production Goal for Model 3

Tesla 'real car company' after hitting Model 3 goal, Musk says Tesla hits Model 3 manufacturing milestone, hours after deadline
Elsie Buchanan | 03 July, 2018, 21:13

Tesla's production blitz at the final week of Q2 2018 resulted in the electric auto and energy company reaching its all-elusive goal of producing 5,000 Model 3 in a single week. But that's not all.

'What's more, with the widespread productivity gains throughout Tesla and the new production lines spooling up, we are on track to reach 6k/week for Model 3 next month'.

Company CEO Elon Musk took to Twitter to celebrate the accomplishment, noting the team had built 7,000 cars in seven days. "Its timing just before the end of the quarter suggests it's more of a publicity play than a sustainable production rate".

The social media post was first viewed as shockingly good news for a company that has continually missed production targets and lost money for 15 years in a row. The company says it has 420,000 orders left to fulfil for the Model 3, with right-hand drive production set to kick off in 2019.

Tesla is likely to announce production and delivery numbers for the quarter later this week, and investors will watch to see whether the company can keep up its end-of-quarter production speed and increase efficiency to produce the cars at a profit.

Chris Froome told he can not compete in Tour de France
If they are unsuccessful, it is unlikely they will have time to squeeze in an appeal to the Court of Arbitration for Sport (CAS). The Brit has been continued to compete despite the ongoing doping case against him and won the Giro D'Italia in May.


Meeting the goal hasn't been easy for Tesla. Moreover, Levy adds that Tesla's recent announcement that Model 3 reservation holders need to fork over an additional $2,500 to secure the vehicle "seems to be an aggressive attempt to meet otherwise hard targets of being cash flow positive" during the September quarter.

In Oct. 2017, Musk said the plan was to reach a production rate of 10,000 vehicles per week towards the end of 2018. Musk has repeatedly said the company would not have to raise cash this year.

Still, Tesla's manufacturing pause is coming after a frenetic three months that involved building a makeshift production line under a tent outside its California assembly plant.

History is limited, given Model 3 production began only last summer.

One of them said that, leading up to Sunday morning's production milestone, Musk paced the Model 3 line, snapping at his engineers when the around-the-clock production slowed or stopped due to problems with robots. These will be counted toward the automaker's third-quarter delivery tally. The company also erected a huge tent and literally assembled 20 percent of its units by hand. Going conservative on the Model 3's 0-60mph time would help reinforce the appeal of the Tesla's more-premium Model S. The slowest Model S can hit 60mph in just 4.2 seconds, and the slower the significantly cheaper Model 3 is from that time, the better - for Tesla, anyway. Wall Street investors, who have pushed the company's stock beyond $340 per share, are growing impatient with the losses.

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