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A Tesla showroom in Manhattan. Photo: Spencer Platt/Getty Images

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.

Go deeper

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.

16 hours ago - World

Maximum pressure campaign escalates with Fakhrizadeh killing

Photo: Fars News Agency via AP

The assassination of Mohsen Fakhrizadeh, the architect of Iran’s military nuclear program, is a new height in the maximum pressure campaign led by the Trump administration and the Netanyahu government against Iran.

Why it matters: It exceeds the capture of the Iranian nuclear archives by the Mossad, and the sabotage in the advanced centrifuge facility in Natanz.