Tesla Goes on With Model 3 production goal
Tesla Inc reported on Wednesday it was sticking with Chief Executive Elon Musk’s revised production targets for its Model 3 electric sedan and published reduced than predicted quarterly loss.
Model 3 is considered as essential to Tesla’s goal of altering itself into a rewarding company.
Having said that, Tesla has lagged to ramp up production of the car resulting from manufacturing troubles, pressuring the company to miss its delivery objectives in previous times.
“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 company suggested it had $3.37 billion in cash and cash-equivalents as of Dec. 31, when compared with $3.53 billion at the end of the third quarter.