Tesla Model 3 Production
It also spells out quarterly total, reservations held — and its next goal
They provide numbers, say paint shop overwhelmed, tent line 'makeshift.'
Tesla is opening orders to all reservation holders soon.
And yeah, it's probably true.
In a sign that Tesla's Model 3 production continues to improve, CEO Elon Musk tweeted that the company will enable ordering of dual-motor versions of the sedan at the end of next week. Customers waiting for a Model 3 in performance or all-wheel-drive trim can find out how much the options will cost and put orders in with production scheduled to start in July, consistent with Musk's statement last month.
Tesla will attempt to ramp up production to 6,000 Model 3 cars per week by the end of June to reach its weekly goal of 5,000 and allow for a margin of error, Electrek reported, citing a letter to employees from Chief Executive Elon Musk.
Tesla quashed any speculation it might need to raise more capital this year on Tuesday, driving the company's battered shares higher as it announced it built 2,020 of its Model 3 sedans in the last seven days of March.
Tesla will reportedly fall short of its 2,500-per-week target for production of the crucial Model 3 sedan when it reports its numbers this week, but the news isn't entirely bad.
Tesla shares rose on Thursday ahead of the expected release next week of the company's quarterly auto production data, while a senior executive urged workers at the automaker to hit a weekly production target of 2,500 Model 3 sedans by the end of March.
Gene Munster, an analyst from Loup Ventures, said on Bloomberg that Tesla is "probably going to miss" its Model 3 production targets this quarter, but that the news won't be a surprise to investors. "It's going to be worse before it gets better," he said. Munster told Bloomberg that he predicts that Tesla will be able to churn out between 1,500 and 2,000 Model 3s per week, falling far short of the company's goal of 2,500 per week.