Photo: Tesla via AP

It's kind of a glass half-empty or half-full question right now when it comes to Tesla's mass-market Model 3 electric sedan. As we reported in the Axios stream yesterday, the Silicon Valley automaker reported a jump in Model 3 production in the fourth quarter, producing 2,425 of the mainstream priced cars compared to a paltry 260 in the prior quarter.

Why it matters: Tesla's ability to address what CEO Elon Musk has called "production hell" and churn out the Model 3 at scale is vital for the company's future in the increasingly competitive EV market.

Yes, but: Tesla has once again delayed its target of producing 5,000-per-week, and the new timeline is to reach that level at the end of the second quarter of this year. Wall Street was not impressed — the stock fell by almost 3% in after-hours trading.

Case in point: Quartz contrasts Tesla's Model 3 production with GM's electric Chevy Bolt:"GM launched the car in 2015, far ahead of the $35,000 Model 3, Tesla's first mass-market vehicle, and it seemed like no contest at the time. Tesla had amassed an impressive 400,000-person or so waiting list, and no one was lining up to buy GM's comparatively dowdy car months before it rolled off assembly lines. Today, monthly sales keep climbing, and it has reported 22,662 in sales since its debut in Dec. 2016."Quick take: Tesla's quarterly announcement was exceedingly earnest and humble in tone. Musk seems to understand that he over-promised and that he needs to be ultra-cautious in what he says now.The big picture: The Los Angeles Times has an in-depth look at the status of the EV and solar power company, and its ability to keep raising money from investors.

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Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 20,004,254 — Total deaths: 733,929 — Total recoveries — 12,209,226Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 5,088,516 — Total deaths: 163,400 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deathsHouse will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: 5 states set single-day coronavirus case records last week — A dual coronavirus and flu threat is set to deliver a winter from hell.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."

AOC to speak at Dem convention

Rep. Alexandria Ocasio-Cortez during an April a press conference in Queens, New York City. Photo: Scott Heins/Getty Images)

Rep. Alexandria Ocasio-Cortez will speak at the Democratic convention next week ahead of Sen. Bernie Sanders' appearance on the Tuesday night, CNN first reported and Axios has confirmed

Why it matters: Her involvement is a strategic decision to energize young progressives without tying former Vice President Joe Biden too closely or directly with her agenda.

1 hour ago - World

Protests in Belarus turn deadly following sham election

An arrest today in Minsk. Photo: Natalia Fedosenko/TASS via Getty

Protesters and security forces are clashing across Belarus tonight, with at least one person dead, hundreds injured and thousands arrested.

Why it matters: Sunday’s rigged presidential elections have yielded political uncertainty unlike any seen in Aleksander Lukashenko’s 26-year tenure. After claiming an implausible 80% of the vote, Lukashenko is using every tool in the authoritarian arsenal to maintain his grip on power.