Tesla Goes on With Model 3 manufacturing goal
Tesla Inc said on Wednesday it was sticking with Chief Executive Elon Musk’s revised production targets for its Model 3 electric sedan and published less significant than anticipated quarterly loss.
Model 3 is regarded as critical to Tesla’s goal of altering itself into a rewarding company.
Having said that, Tesla has had trouble to ramp up production of the car resulting from manufacturing issues, pressuring the company to miss its delivery goals before.
“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.