Tesla Goes on With Model 3 production [Plan
Tesla Inc claimed on Wednesday it was sticking with Chief Executive Elon Musk’s adjusted production targets for its Model 3 electric car and published little than predicted quarterly loss.
Model 3 is regarded as critical to Tesla’s goal of altering itself into a money-making company.
Nevertheless, Tesla has not been as successful to ramp up production of the car on account of manufacturing problems, pressuring the company to miss its delivery objectives in the past.
“We continue to target weekly Model 3 production rates of 2,500 by the end of (first quarter) and 5,000 by the end of (second quarter),” Tesla said in a statement.
The corporation stated it had $3.37 billion in cash and cash-equivalents as of Dec. 31, as opposed with $3.53 billion at the end of the third quarter.