Tesla misses first major Model 3 goal in worst financial quarter ever [The Verge]
Tesla, Inc. (TSLA)
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Source: The Verge
Automaker says it will make 5,000 Model 3s next year, points to problems at Gigafactory Tesla will no longer reach its long-stated goal of producing 5,000 Model 3 cars per week in 2017, pushing that deadline back amid production hiccups and a massive $619 million quarterly loss. The automaker said Wednesday in its third quarter earnings report that Model 3 production has been slowed by progress at its Gigafactory, now saying it will reach its goal of producing 5,000 of the vehicles per week by early 2018, rather than the end of 2017. “While we continue to make significant progress each week in fixing Model 3 bottlenecks, the nature of manufacturing challenges during a ramp such as this makes it difficult to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear,” the company said. Tesla’s production problems were first revealed in October , when the company announced that it had only made 260 Model 3s since the car’s la
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- 4/25/24 - Form DEFA14A
- 4/24/24 - Form 10-Q
- TSLA's page on the SEC website