Bringing some relief to customers and investors who are miffed by the long delays in the delivery of Tesla’s (TSLA) ambitious Model 3 sedan, CEO Elon Musk Tuesday said the company now targets to produce around 500 units per day this week.
The announcement comes amidst widespread skepticism about the company meeting its target of 5,000 units per week by the end of the quarter, after a protracted delay in deliveries. The latest assurance from Musk, citing “great progress” at the production ramp, means a 75% increase in output compared to April.
“It is looking quite likely that we will exceed 500 vehicles per day across all Model 3 production zones this week,” said an email to employees, obtained by Electrek.
It appears that Tesla has finally fixed the glitches that restricted the production of Model 3 to about 2,000 units per week over the last month, as promised by the CEO in an earlier statement. Issues with manufacturing of battery packs at the company’s Gigafactory-1 plant have been a major hassle in ramping up the production of Model 3 to the desired levels.
Tesla chief Elon Musk Tuesday said the company now targets to produce around 500 units per day this week
Last week, Musk had hinted at conducting a hackathon to resolve certain technical issues related to robotics at Tesla’s Fremont assembly lane.
Interestingly, Musk appealed to all stakeholders that if they know of “any specific bottlenecks” that would come in the way of the company meeting the current target, it should be communicated to him so that steps could be taken to resolve it.
For Tesla, being able to market Model 3 effectively is a major advantage at a time when the company is facing multiple challenges, such as depletion of talent at the top level and financial constraints.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,