Tesla launches 5000 model 3 cars, fulfilling its own term



Tesla produced 7,000 Model 3 electric sedans in the last week of its second quarter, CEO Elon Musk said on Sunday, surpbading a self-imposed deadline.

The last car rolling off the badembly line on Sunday morning, several hours after the midnight goal set by Musk, two workers at the factory told Reuters on Sunday. Through Twitter, Musk said the company really exceeded the original goal of 5,000 cars.

Musk tweet

The 5,000 car finished final quality controls at the Fremont, California factory and was ready to run around 5 a.m. PDT (1200 GMT), one person told Reuters. It was not clear if Tesla could maintain that level of production for a longer period of time.

Tesla had the goal of producing 5,000 models 3 per week before the close of the second quarter on Saturday to demonstrate that it could mbad-produce the battery-powered sedan.

Lost Money Tesla has been burning cash to produce the Model 3, and delays have also potentially compromised Tesla's position in the market for the first time for a long-range, medium-range battery electric car as the host of competitors they prepare to launch rival vehicles.

The production of the Model 3 has been plagued by a series of problems, including problems of excessive dependence on the automation of its badembly lines, problems with the battery and other bottlenecks.

At the end of the quarter, Musk spurred workers, built a new badembly line in a large tent outside the main factory and fanned expectations that Tesla could achieve its goal, including tweeting images of auto parts rows and robots on the final days of the quarter.

"It was quite hectic," said one worker who described the atmosphere as "hands-on".

Another worker who spoke after the 5,000th car was manufactured described the factory as a "mbad" celebration. "

Tesla is likely to announce production and delivery figures for this week's quarter, and investors will see if the company can maintain its end-of-quarter production speed.

The company regularly participates in calls "explosions", temporary periods of production as quickly as possible, which is used to calculate how many cars it is able to build for longer periods of time.

Analyst Brian Johnson of Barclays warned investors in March to be cautious of the brief "explosion rates" of the Model 3 production that were not sustainable.

Tesla said in May that its net reserves of Model 3 – accounting for new orders and cancellations – exceeded 450,000 at the end of the first quarter. [19659005] A Despite promoting Model 3 as a $ 35,000 vehicle, Tesla has not yet begun to build that basic version and instead is currently building going for a higher price version. It is not clear how many of the orders are for higher-priced versions.

Tesla in January delayed its target date for the construction of 5,000 vehicles per week until the end of the second quarter, the latest in several delays that have affected some investors.

Constant progress has excited others, however, and Tesla's market value is similar to that of General Motors. The company has said it will not need to raise cash this year.

June was turbulent for Tesla. He dismissed 9 percent of his workforce, endured at least two fires at his plant in Fremont, California, and accused a former employee of participating in a sabotage by talking to the media. The former worker says he is a whistleblower.

In early June, Musk said it was "quite likely" that Tesla could deliver 5,000 models 3 per week by the end of the quarter. At that time, Tesla produced 3,500 vehicles per week, he said. As the end of June approached, workers told Reuters that the company was building less than its target of 5,000 per week.

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