Tesla sticks with Model 3 production target
Tesla Inc claimed on Wednesday it was sticking with Chief Executive Elon Musk’s adjusted production targets for its Model 3 electric sedan and published smaller than envisioned quarterly loss.
Model 3 is seen as important to Tesla’s mission of altering itself into a profitable company.
Having said that, Tesla has had trouble to ramp up production of the car due to manufacturing troubles, pressuring the company to miss its delivery objectives 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 reported 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.