Last week saw the handover of the keys to the first 30 owners of the newly launched electric vehicle. It also said it's fine-tuning its Gigafactory 1 production lines to help boost the rate at which it's able to make Model 3 drive units and its own 2170 form factor battery cells, which are used in the Model 3 powerhouse. Current goals state 1,500 cars built over the 3 months of Q3 2017, a ramp up to 5,000 cars per week by year's end and a culmination of 10,000 Model 3s built weekly "at some point in 2018".
The market appeared to give Musk a pass on his correcting the record on Model 3 reservations and production of the "Model Y", the compact SUV that Tesla aims to offer in a couple of years. "In addition to the increased orders for Model S and Model X, customer response to Model 3 has been overwhelming".
Chief executive Elon Musk is counting on the Model 3, Tesla's least pricey vehicle to date, to make the company profitable and establish it as the leading electric car-maker ahead of BMW, General Motors and other long-established players.
Tesla CEO Elon Musk said today the forthcoming Model Y electric crossover vehicle will be built on a similar architecture to the recently released Model 3, in an effort to bring the auto to market sooner.
The quarterly earnings report revealed an adjusted loss per share of $1.33, compared with the $1.82 that had been expected, according to Thomson Reuters.
Afghan mosque blast 'kills many — BBCI
The attack comes a day after an attack on the Iraqi embassy in Kabul , which was claimed by the ISIS, killed two people. "There has been an explosion at the gate of Jawadya mosque in Herat city, possible caused by a vehicle bomb".
Tesla has received 500,000 orders for the Model 3.
Yeah, the new Model 3 is good.
Yesterday, during its second quarter earnings, the electric vehicle maker Tesla Inc (NASDAQ:TSLA) tried to put to rest all fears of a slowdown around its existing luxury cars, Model X and Model S. For a while now, investors and analysts have been expressing fear about a slowdown in demand especially of the luxury sedan Model S. Sales of Tesla's Model S luxury sedan appear to have peaked in 2015 Q4. Touted as the company's first "mass-market" vehicle, the Model 3 received rave reviews from auto and tech experts.
Shares in the automaker popped more than 7% on Thursday, a day after Tesla reported second quarter earnings that saw revenue double and the net loss attributable to shareholder expand to $336.4 million from $293.2 million in the same period previous year. Tesla is likely to need to raise capital around the first quarter of next year, versus expectations of a capital raise by the second quarter. This is because unlike other Tesla models which are admittedly rather pricey, the Model 3 will be a slightly more affordable Tesla vehicle, meaning that those who have been coveting a Tesla, the Model 3 could be their gateway into the Tesla world.