Jul 1, 2018 - Energy & Climate

Tesla hits its Model 3 production goal — 5 hours late

Ben Geman

Tesla almost reached Elon Musk's goal of producing 5,000 Model 3 electric sedans per week during the last week of its second quarter, reports Reuters. The 5,000th car made it through final quality checks around 5 a.m. PT — mere hours after Musk's midnight deadline.

Why it matters: Achieving the 5000-per-week production level for the Model 3 during the second quarter was vital for Tesla, even if it came a few hours late. The company has previously fallen short of production targets during the slower-than-expected ramp-up.

Yes, but: It remains to be seen how much confidence among investors and analysts that the seeming success in hitting the deadline will create. As Reuters notes, a key question is how long Tesla can sustain that production level.

The company took aggressive measures at its California factory to meet the target, and it’s unclear to what extent the final push to boost Model 3 output may have required pulling resources from other models.

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Tesla hits its Model 3 production goal — 5 hours late

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