Apr 17, 2018

Tesla temporarily halts Model 3 production

Customers look at Tesla's Model 3. Photo: Salwan Georges/The Washington Post via Getty Images)

BuzzFeed broke the news last night that Tesla is temporarily shutting down production of its mass-market Model 3 sedan, a hiatus expected to last four to five days.

Why this matters: Successful large-scale production of the sedan is critical to the future of the Silicon Valley automaker, which is churning them out more slowly then initially planned.

  • The Wall Street Journal writes on Tesla's latest headache: "A spokesman repeated the company’s past statement that shutdowns are 'used to improve automation and systematically address bottlenecks in order to increase production rates.'"
  • Tesla's current target is to be producing 5,000 per week by mid-year, up from slightly over 2,000 it made in the final week of the first quarter. Another missed goal could shake investor's confidence in the company.

Speaking of Tesla: The Harvard Business Review has an interesting piece that puts Tesla's recent struggles in the context of GM's rise, evolution and struggles a century ago.

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Federal court temporarily halts "Remain in Mexico" program

Migrant wearing a cap with U.S. flagin front of the border between Guatemala and Mexico. Photo: Jair Cabrera Torres/picture alliance via Getty Image

The 9th Circuit Court of Appeals upheld a lower court's earlier injunction on Friday, temporarily stopping the Trump administration from enforcing the Migrant Protection Protocols (MPP) — known as the "Remain in Mexico" policy.

Why it matters: Tens of thousands of migrants seeking asylum have been forced to wait out their U.S. immigration court cases across the border in Mexico under the policy. The Trump administration has long credited this program for the decline in border crossings following record highs last summer.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Coronavirus updates: WHO raises global threat level to "very high"

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The World Health Organization raised its global risk assessment for the novel coronavirus to "very high" Friday, its highest risk level as countries struggle to contain it. Meanwhile, National Economic Council director Larry Kudlow this morning tried to reassure the markets, which continued to correct amid growing fears of a U.S. recession.

The big picture: COVID-19 has killed more than 2,860 people and infected about 83,800 others in almost 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

Go deeperArrowUpdated 3 hours ago - Health

Bernie's plan to hike taxes on some startup employees

Illustration: Sarah Grillo/Axios

Sens. Bernie Sanders (D-VT) and Chris Van Hollen (D-MD) introduced legislation that would tax nonqualified stock options at vesting, rather than at exercise, for employees making at least $130,000 per year.

The big picture: Select employees at private companies would be taxed on monies that they hadn't yet banked.