After missing prior deadlines, Tesla finally achieved its goal of producing 5,000 copies of the Model 3 per week. In the last seven days of the second quarter, Tesla reports cranking out 5,031 copies of the sedan. It also produced 1,913 Model S and X vehicles.
Tesla more than doubled its weekly production rate for the Model 3 during the most recent quarter with the help of a new assembly line built under a tent. The assembly line, which CEO Elon Musk says was built in three weeks, made around 20 percent of the Model 3s produced last week. During the entire three-month period, Tesla made 28,578 Model 3 sedans, which is more than the 24,761 combined total of Model S and X vehicles produced in this time.
Bloomberg reports that Tesla reached its target by early Sunday. The information comes from workers who didn’t want to be identified. Regardless of the exact timing, it’s a big reward considering Tesla originally had been working to build 5,000 copies of the Model 3 a week by the end of 2017.
To date, Tesla has sent out 28,386 copies of the Model 3 to customers, but it still has 420,000 net reservations in the queue. Fortunately, production of the Model 3 is expected to ramp up in the near future. By late next month, Tesla hopes to build 6,000 Model 3 sedans a week. Given Tesla’s history of missing deadlines, we’ll have to see it to believe it.
The automaker is sticking with previous projections that it will achieve positive GAAP net income and cash flow in the third and fourth quarters of the year.
The automaker began rolling out dual-motor, all-wheel-drive versions of the Model 3, according to a tweet from Musk in May. A higher-performing variant will reach 60 mph in a claimed 3.5 seconds, while the other should take 4.5 seconds. Both vehicles are expected to travel 310 miles on a single charge.
Source: Tesla, Bloomberg