Tesla aims to calm fears over Model 3 production

phys.org | 2/8/2018 | Staff
xhelloworld (Posted by) Level 4
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A day after launching one of its cars into space, Tesla moved Wednesday to ease concerns on earth over production delays for its Model 3, the key to future growth for the star electric carmaker.

In its quarterly earnings update, the carmaker led by entrepreneur Elon Musk said it is moving ahead toward its goal of producing 5,000 Model 3 vehicles per week by the end of the second quarter.

Letter - Shareholders - Musk - Forecasts - Car

In a letter to shareholders, Musk said it has been difficult to get accurate forecasts for the car, a more affordable model for the automaker known for expensive vehicles.

"What we can say with confidence is that we are taking many actions to systematically address bottlenecks... and these actions should result in our production rate significantly increasing during the rest of Q1 and through Q2."

Tesla - Record - Loss - Quarter - Revenues

Tesla reported a record loss for the quarter of $675 million on revenues of $3.3 billion.

But Tesla shares rose 1.7 percent in after-hours trade, on the upbeat assessment of production efforts.

Quarter

In the quarter,...
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