Tesla has achieved ‘2,000/week production rate’ for Model 3
According to a leaked email reportedly sent by Tesla CEO Elon Musk to company employees this week, the current production rate of Tesla Model 3 electric vehicles is ‘over 2,000 units per week.’
The leaked email, which was supposedly sent by Musk to all Tesla employees at 3:02 a.m. PST on April 2, was recently shared on Twitter by journalist Ed Niedermeyer, who said that the emails have been obtained from an inside source at Tesla.
In the email, Musk congratulated Tesla’s workers for hitting the new production milestone of ‘2,000 Model 3 per week’ milestone. The achievement is noteworthy because Tesla managed to reach the ‘2,000 units’ production mark for the Model 3 in barely nine months. Musk was under tremendous pressure as the company registered strong interest in Model 3 but wasn’t able to deliver the cars as promised to customers. Tesla stock was facing selling pressure every time Tesla announced lower than expected delivery volume for Model 3.
The 2,000/week production rate of Model 3 underscores a significant improvement over the production rate of the vehicle in the last three months.
Although the ‘2,000/week’ Model 3 production milestone is lower than Tesla’s target of ‘2,500/per week’ Model 3 production by the end of January-March 2018 quarter, Musk said in the email to Tesla employees: “It has been extremely difficult to pass the 2,000 vehicles per week rate for Model 3, but we are finally there.” He further added: “If things go as planned today, we will comfortably exceed that number over a seven-day period!”
The news will offer support to Tesla stock as investors were worried about the company’s ability to deliver on its promises. Tesla stock has declined in the recent weeks over issues related to production bottlenecks.
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