Tesla Still Struggles to Build Model 3 but Promises a Transformative Year
Perhaps riding a bit on the Starman high of this week?s SpaceX triumph, which included the successful launch of a special payload (Musk?s Tesla Roadster) into space, the one-liner that Tesla CEO Elon Musk blurted out near the start of a financial call for the automaker may have fallen a little flat: ?If we can send a Roadster to the asteroid belt we could probably solve Model 3 production . . . it?s just a matter of time.?
A great many reservation holders for the Model 3, Tesla?s more affordable mass-production car, are likely wondering just how long that time might be. Yet investors have been remarkably unfazed by a spate of reported losses?including its biggest quarterly loss ever of $675 million in the last quarter of 2017. During the update, Musk was awash in a seemingly parallel universe of contradictions?simultaneously griping about how hard it is to mass-produce vehicles and criticizing how slow and antiquated current auto production is. Still Talking Ramp-Up
The numbers say a lot. More than seven months after the production start for the Model 3, Tesla still isn?t making them as rapidly as it makes its more expensive niche models, the Model S and the Model X. Through the end of the year, Tesla had delivered just 1542 Model 3 sedans but claimed that it had reached a production rate of better than 1000 a week. By the end of March the automaker hopes to reach 2500 units a week, a rate that will at last see the Model 3 outpace the company?s production rate for its ol...
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