Tesla temporarily halts Model 3 production

Tesla and NTSB Clash Over Fatal Crash Investigation

In the case of Tesla, here's what we're working with: the rollout of the Model 3 has been slower-than-expected, which is weighing on revenue and hurting free-cash flow.

David Friedman, a former NHTSA acting administrator who now is director of cars and product policy for Consumers Union, the advocacy arm of Consumer Reports, said the Tesla-NTSB spat could delay the investigation if the agency doesn't have all the electronic information it needs from the company.

Elon Musk has admitted that automation has been holding back Tesla's Model 3 production and that humans, rather than machines, were the answer.

Since launching last summer, the Model 3, which costs $35,000 for the base model and is touted as the first affordable electric vehicle, has been the subject of much analyst handwringing. A similar type of shutdown happened at March this year too. Other Tesla workers made similar comments on a pro-union Facebook page for Tesla employees. It warned of possibly more periods of downtime in coming months.

That prediction, like many of Musk's, is starting to look flimsy.

On the plus side, the Model Y will be built on the same platform as the Model 3.

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The company announced to employees that the pause will be for four to five days, Buzzfeed reported Monday. The company called the move a common way to upgrade equipment and speed up production.

But don't concern yourself with your Model 3 order being late - Tesla founder Elon Musk has said in a masterful piece of diversionary wordplay that there's merely been a "time-shift" in delivery.

Musk once pitched a vision for a completely automated automobile factory.

Tesla is temporarily shutting down production for the Model 3 at its factory in Fremont, California. Musk has learned this lesson the hard way. Vetr downgraded shares of Tesla from a buy rating to a hold rating and set a $331.97 price objective for the company.in a research report on Tuesday, January 9th. One class action suit filed on March 23 accuses Musk of deceiving investors about Model 3 progress. Just as the Model 3 is a more affordable sedan compared to the Model S, the Model Y will be a more affordable option compared to the Model X SUV.

Musk is now in a race to produce enough Model 3s to avoid a reckoning with investors no longer willing to believe the CEO's promises.

The plaintiffs stated that Musk and Ahuja regularly visited the company's Fremont plant and therefore should have known that the production schedule they fed to investors was based on lies. During Monday trade on Nasdaq, Tesla shares fell 3.04 percent, and lost another 0.24 percent during after-hours trade. Musk has bet the company on the Model 3. Both of these statements were seen as positives by the market and they both helped Tesla stock remain over the key technical level of $300 per share, which it has toyed with breaking over the last week.

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