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Tesla again halts Model 3 production

19 April 2018, 02:06 | Melanie Burgess

Tesla to push for 6000 Model 3 cars per week by end-June, Musk says

Tesla Model 3 out the assembly line is seen in this undated handout

After falling behind in its initial Model 3 production ramp and lowering output targets, Tesla is now apparently confident it can raise its output goals for the second quarter. Pacific time on Tuesday and obtained by Jalopnik, CEO Elon Musk informed the company's staff about these plans, together with a number of other new changes being introduced to enable Tesla to finally turn a profit.

"While further delays would not necessarily "make or break" Tesla, they will invariably exacerbate cash burn", wrote Sacconaghi, who rates the stock as "market perform".

Tesla has received over 500,000 orders for its more affordable Model 3 electric sedan.

Tesla had been under the pressure to prove to the Critics and investors that the company can increase the production of the electric mass market auto with $35,000 starting price.

The company says it warned of future production pauses when it shut down the line to improve automation in February.

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In the letter to employees cited by Electrek, Musk said Tesla had built over 2000 Model 3s per week for three weeks, with 2250 made last week. Tesla's general assembly, body, and paint teams will all add a third shift and require more people. Lately, he's been sleeping at the Fremont factory in an effort to improve Model 3 production.

"Another set of upgrades starting in late May should be enough to unlock production capacity of 6,000 Model 3 vehicles per week by the end of June", he added.

Note: Main line automakers stop or slow production of new models to iron out kinks within the production system. In essence, the company may run the assembly line for a longer period of time and with more workers on the line each week, but it might still be dealing with the same problems that have plagued Model 3 production for the past nine months, opting for a costlier route to achieve a production target.

Analysts polled by Bloomberg expect Tesla to report a loss of $3.35 per share on revenue of $3.345 billion early next month.

In the "profit" section of the leaked email, Musk said that Tesla is now at a point in which it will strive to be profitable.



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