Categories Technology

Elon Musk vows to roll out 500 Model 3 units per day

Bringing some relief to customers and investors who are miffed by the long delays in the delivery of Tesla’s (TSLA) ambitious Model 3 sedan, CEO Elon Musk Tuesday said the company now targets to produce around 500 units per day this week.

The announcement comes amidst widespread skepticism about the company meeting its target of 5,000 units per week by the end of the quarter, after a protracted delay in deliveries. The latest assurance from Musk, citing “great progress” at the production ramp, means a 75% increase in output compared to April.

“It is looking quite likely that we will exceed 500 vehicles per day across all Model 3 production zones this week,” said an email to employees, obtained by Electrek.

It appears that Tesla has finally fixed the glitches that restricted the production of Model 3 to about 2,000 units per week over the last month, as promised by the CEO in an earlier statement. Issues with manufacturing of battery packs at the company’s Gigafactory-1 plant have been a major hassle in ramping up the production of Model 3 to the desired levels.

Tesla chief Elon Musk Tuesday said the company now targets to produce around 500 units per day this week

Last week, Musk had hinted at conducting a hackathon to resolve certain technical issues related to robotics at Tesla’s Fremont assembly lane.

Interestingly, Musk appealed to all stakeholders that if they know of “any specific bottlenecks” that would come in the way of the company meeting the current target, it should be communicated to him so that steps could be taken to resolve it.

For Tesla, being able to market Model 3 effectively is a major advantage at a time when the company is facing multiple challenges, such as depletion of talent at the top level and financial constraints.

Most Popular

Infographic: Nvidia (NVDA) Q4 revenue up 61%; earnings beat

Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the

Nutanix (NTNX) Earnings: 2Q21 Key Numbers

Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3

Macy’s (M) expects digital channels to generate approx. $10 billion in sales by 2023

Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top