Tesla persist on Model 3 manufacturing objective
Tesla Inc reported on Wednesday it was sticking with Chief Executive Elon Musk’s adjusted production targets for its Model 3 electric sedan and released less significant than envisioned quarterly loss.
Model 3 is seen as vital to Tesla’s mission of transforming itself into a successful company.
Nevertheless, Tesla has not been as successful to increase production of the car as a consequence of manufacturing troubles, pushing 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 company stated 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.