Wow: Tesla just built 7000 cars in a week

Tesla 'real car company' after hitting Model 3 goal, Musk says

Tesla Inc almost produced 5,000 Model 3 electric sedans in the last week of its second quarter, with the final vehicle rolling off the assembly line on Sunday morning, several hours after the midnight goal set by Chief Executive Elon Musk, two workers at the factory told Reuters.

"Not only did we factory gate over 5000 Model 3's, but we also achieved the S & X production target for a combined 7000 vehicle week!" Most recently in May, Tesla said that despite the delivery delays, its net Model 3 reservations - accounting for new orders and cancellations - exceeded 450,000 at the end of the first quarter. While that figure has been achieved (minus a few hours), it remains to be seen if Tesla can keep up this pace due to battery issues and an over-reliance on automation that has plagued Model 3 production since July 2017.

Analyst Brian Johnson of Barclays warned investors in March to be wary of brief "burst rates" of Model 3 production that were not sustainable.

Musk has acknowledged the production struggles on Twitter, where he discussed sleeping at the factory while also blasting out photos of the tented assembly line, as well as armies of seats and other auto supplies destined for Tesla cars.

The Los Angeles Times writes, "Optimism about the Model 3 transforming Tesla into a much bigger carmaker that sells to the mass auto market sent the company's market capitalization past Ford Motor Co. and General Motors Co. for the first time previous year".

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Billionaire Elon Musk has been branded "deceptive or delusional" by a respected valuation expert for insisting his electric vehicle company Tesla can hit production targets and turn a profit. Intense in tents. Transporting entire production lines across the world in massive cargo planes.

"We did it!" Musk said in his email to Tesla employees Sunday evening, obtained by Bloomberg.

The assembly plant reached the target by early Sunday, according to workers who asked not to be identified, with one saying cheers were heard at the end of the line around 5 a.m. local time. Tesla recently opened up its order system to those in the U.S. and Canada with Model 3 reservations. Both orders and deliveries for Model S and X were higher in Q2 than a year ago.

Despite touting the Model 3 as a $35,000 vehicle, Tesla has yet to begin building that basic version and instead is now building a higher-priced version.

Steady progress has enthused others, however, and Tesla's market value is close to that of General Motors Co. Overflow production line added in back lot of @tesla headquarters. "Though the production hiccups have led to tumultuous periods for the shares, they're now up 10% this year, and the company is valued at $58.2 billion".

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