Tesla Cranking Model 3's Production Line to 2000 Per Week (TSLA)

Tesla Cranking Model 3's Production Line to 2000 Per Week (TSLA)

In a Twitter exchange on Monday, Musk quashed rumors that Tesla's Vice President of Engineering Doug Field has fallen out of grace, and tweeted that as chief executive, he is focusing on the most critical issues, which currently is the Model 3 production, while Field is focused on vehicle engineering. It estimates that output for its Model 3 sedans would hit 5,000 cars per week in the next three months.

Tesla forecasted that it will begin to generate positive quarterly operating income in 2018, driven by both the Model 3 and energy storage products. (TSLA) announced its highly anticipated quarterly results Tuesday, sending shares up 6% despite the company missing production targets for its first mass-market vehicle, the Model 3 sedan.

The Model X driver also had about 5 seconds and 150 metres of an unobstructed view of the concrete divider with the crushed attenuator but no action was taken by the driver according to the vehicle logs. It's believed the drop was due to a fatal crash last month involving a Model X running on Autopilot.

Tesla has hyped Model 3 a lot and has a lot of attention, but has been suffering from production woes. Investors are eagerly awaiting Tesla's production figures for the first quarter, which are expected to miss forecasts.

In a statement, the company confirmed that autopilot was engaged with the adaptive cruise control follow-distance set to minimum. That forecast was changed at the start of the year, however, with Musk instead suggesting the automaker would be producing 2,500 of the cars at that point. In the last seven days of the quarter, though, even with that acceleration, it produced 2,020 of the cars. Pushing back on skeptics who insist the company will need to raise more cash to ramp up production, Tesla said it "does not require an equity or debt raise this year, apart from standard credit lines".

The Tesla Model 3 is a highly-anticipated vehicle. Watch along in the video above and brace yourselves because things are about to get weird. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

Musk has embraced the fact that he often errs on the side of stretch goals rather than setting a low bar for himself or his company.

Tesla's release stressed the overall satisfaction of Model 3 buyers, likely in an effort to counter widespread commentary on build-quality problems and delivery flaws observed by Model 3 buyers over the first several months.

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