Economy

Tesla releases official production numbers: 53,339 vehicles including 28,578 Model 3’s

Tesla releases official production numbers: 53,339 vehicles including 28,578 Model 3’s”

Tesla met its production goals for the Model 3 last week, producing a total of 5,000 vehicles.

The new milestone - despite being put in rather harsh perspective by Ford CEO Steven Armstrong (see Tweet below) - is important for Tesla, to reassure both shareholders about its mass production capability, and customers, who have been waiting patiently for delivery of their Model 3 since this time past year.

As we have reported, the production of the Model 3 has been far from smooth for Tesla, with Musk himself repeatedly describing it as being in various levels of "hell," as problems with certain factory lines and vehicle components were nutted out.

Tesla's second quarter accomplishment represents an important milestone for the electric auto manufacturer.

The last 12 months were some of the most hard in Tesla's history, and we are incredibly proud of the whole Tesla team for achieving the 5,000 unit Model 3 production rate.

In a photograph from May, a 2018 Tesla Model 3 sits at a dealership in Littleton, Colo. For the first time, Model 3 production (28,578) exceeded combined Model S and X production (24,761), and we produced nearly three times the amount of Model 3s than we did in Q1. Having blamed delays on "excessive automation" and being forced to conduct several shutdowns to correct issues, Tesla built a large, semi-permanent tent at the factory to house another assembly line. Tesla also expects to produce 6,000 Model 3 sedans a week "next month". The company said the new general assembly line was responsible for about 20 percent of Model 3s produced last week.

No standard automotive solution could be built in time, so we created a new solution. Since then Elon Musk, the automaker's CEO, has gone to extremes to fulfill his promise of making 5,000 cars a week by the end of June. Intense in tents. Transporting entire production lines across the world in massive cargo planes. Including Model S and X production, the company had a "7000 vehicle week", he wrote.

The remaining net Model 3 reservations count at the end of Q2 still stood at roughly 420,000 even though we have now delivered 28,386 Model 3 vehicles to date.

The standard battery version of the vehicle that starts at $35,000 still isn't available in the design studio, so anxious customers can either order a higher-priced Model 3, continue to wait, or cancel their order.

The company's shares could hit $400, Damodaran said, but Musk would need to increase revenues from $12.5bn to $120bn in the next decade, invest more efficiently than the rest of the sector and meet debt commitments.

It's not clear how numerous 450,000 who put down a $1,000 refundable deposit did so on the basis of the $35,000 asking price.



Like this

loading...
loading...

Latest


02 July 2018
Uruguay sweating over Cavani for France clash
Portugal lost 2-1, after briefly equalising in the second half, however, it wasn't their day and they're now headed home. Cavani scored both goals in Uruguay's 2-1 win on Saturday to set up a World Cup quarter final clash against France.

02 July 2018
Hero golden retriever protects owner from rattlesnake attack, suffers bite on face
Paula Godwin posted the story to social media on Friday, saying that Todd, her beloved golden retriever, is a hero. Golden retriever Todd seen with his injuries after being bitten by a rattlesnake while on a hike in Arizona.

02 July 2018
Southgate glad England love-in is over ahead of World Cup last 16
Adnan Januzaj's stunning goal secured a much-changed Belgium side a 1-0 win over England's second string at the World Cup. As a kid you want to be playing at the World Cup and in the Champions League - the best competitions in the world.

02 July 2018
Lonzo Ball reacts to LeBron James coming to Lakers
Because they own his "Bird rights" the Cavs can offer James more money than any other team - a five-year, $207 million deal. That year, his iconic block on Andre Iguodala was one of the defining moments of the Cavs' Game 7 win over the Warriors.

02 July 2018
Champs Germany out of World Cup Sweden defeat Mexico 3-0
The World Cup has already seen many long-standing records been broken, with many more to be broken as the tournament progresses. He said: " Germany are out of the World Cup - words that have never been uttered before at the end of a group-stage match".

02 July 2018
Donald Trump 'probably' won't question Supreme Court candidates on abortion
So, a nominee position, whether or not they respect precedent, will tell me a lot about whether or not they would overturn Roe v. Trump said he plans to have his pick for the Supreme Court in place before the upcoming 2018 midterm elections in November.

02 July 2018
U.S. sec'y of state to travel to N. Korea next week
NBC quoted one official saying: "There is absolutely unequivocal evidence that they are trying to deceive the USA ". Four other USA officials said the Hermit Kingdom was purposely trying to mislead the U.S.

02 July 2018
LeBron’s agent: LeBron James signs 4-year, $154 million contract with Lakers
Together with Kyrie Irving and Kevin Love, James lifted the Cavaliers into the 2015 NBA Finals, where they lost to Golden State. The Cavs were swept by San Antonio but James showed his high-leaping, acrobatic skills were at an elite level.

02 July 2018
Sen. Collins: No Roe v Wade opponent for high court
In addition to her belief on Gorsuch's position, Collins also noted Chief Justice John Roberts previously expressed that Roe v. Senate Minority Whip Dick Durbin on Sunday accused President Trump of seeking a Supreme Court pick who will overturn Roe v.

02 July 2018
Beaver Baseball returns to Corvallis to celebrate national championship
Arkansas, which had won its first five games of the series before its Game 2 defeat, finishes the season with a record of 48-21. Abel was rolling and seemed to give them the best chance to win, so understandably Casey preferred to not take him out.