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Tesla's newest Model 3 production numbers, while still short of its goals, were enough to help bolster the stock price by 6% on Tuesday after a brutal month.

Expand chart
Data: Money.net; Chart: Axios Visuals

Why it matters: Weaker results could have sent market confidence in the automaker reeling. But Tesla is hardly out of the woods. Analyst Karl Brauer of Kelley Blue Book pointed out that "scrutiny of the company’s inner-workings has never been higher."

  • "If Tesla can show consistent growth in volume the market will likely mirror that growth in stock price and overall investor confidence. But tolerance for the brand’s history of missed numbers is likely at an end," he said in a statement circulated to reporters.

ICYMI: The Silicon Valley automaker said yesterday that 2,020 of the mass-market electric sedans rolled off the line in the final week of the first quarter, still shy of the (already scaled-back) goal of 2,500 per week by the end of Q1.

  • However, the company expressed confidence that it could reach 5,000 per week this quarter and build from there.

Bright spot: Tesla reported that 8,180 Model 3s were delivered to customers in the first quarter, and per Bloomberg, that makes it the best-selling electric vehicle in the U.S., outpacing sales of Toyota Prius Prime plug-in hybrid and the Chevy Bolt.

Be smart: As my colleagues Alayna Treene and Steve LeVine pointed out in the Axios stream yesterday...

  • If CEO Elon Musk is to persuade the market to give him more money to build out his ambitious production targets — something most analysts expect him to do, despite the company saying yesterday it doesn't require more funding it doesn't require more funding — he must both sustain this higher production, and get his flagship Model 3s up to 5,000 a week.

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
5 hours ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”

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