Tesla finally reached its Model 3 production target

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Tesla finally reached its Model 3 production target

July 02, 2018 - 14:00
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Tesla Inc produced almost 5000 Model 3 cars in the last week of second quarter, Reuters reports. The company finally reached its target level few hours after midnight.

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Tesla Inc produced almost 5000 Model 3 cars in the last week of second quarter, Reuters reports. The company finally reached its target level few hours after midnight.

It is expected that next month Tesla will be producing 6000 cars a week.

Tesla set its target of producing 5000 Model 3 sedans a week in the beginning of January, however, it could reach this goal only now due to numerous production hurdles.

The next Tesla’s task is to persuade investors that it can sustain reached production level, since some skeptics bet against the company.

Shares of Tesla closed at $342,95 on Friday, which is 40% higher than April level.

In May Tesla was able to send a new battery assembly line to its Gigafactory outside Reno, Nevada.

Tesla’s partner Panasonic Corp. informed today that it can consider additional investments into factory in Nevada, if required. So far it invested $1,6 billion into the plant.