"The level of dedication and creativity was mind-blowing", Musk said in the email. Unfortunately, numerous production hell issues - some of which were attributed to Musk's overly ambitious timelines - scuppered the plan. Of course, it shouldn't come as much of a surprise that not everyone is impressed by Tesla's latest achievement.
"Intense in tents. Transporting entire production lines across the world in massive cargo planes".
The company said the new general assembly line was responsible for about 20% of Model 3s produced last week. Both orders and deliveries for Model S and X were higher in Q2 than a year ago.
The goal set by the company, which comes in the final days of Tesla's second financial quarter, was to produce 5,000 vehicles a week.
On Monday, the company released its production and delivery numbers for the second quarter and provided more detail about how it reached the target. Tesla has now delivered over 28,000 of the cars, but still has quite the backlog of reservations to get through: roughly 420,000, in fact.
Bottom line, "Stock likely to experience some relief on achieving 5k Model 3/week since if this pace can be repeated, Tesla should turn into a self- funding company".
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In the past, Tesla has said that it's been able to boost production by idling its factories for short periods of time to address bottlenecks and upgrade equipment.
But with so many people making reservations long before they could ever buy the auto, the question has never really been about whether people will buy it-at least in the early years.
The Model 3, which is built at a factory in Fremont, Calif., retails for as low as $49,000, according to the AP. "Many have been waiting since March of 2016, when Tesla began taking orders with a $1,000 refundable deposit".
For the second calendar quarter, Tesla says it produced a total of 28,578 Model 3 cars-almost triple the 9,766 it produced in the first quarter and vastly more than it produced previous year.
The electric automaker made a promise it could build 5000 Model 3s a week before the end of the second quarter.
Prices start at $35,000 (£26,650), whereas the starting price for the Model S and Model X are around $80,000. Tesla employees and enthusiasts have been celebrating it while Wall Street is doubting the significance of it. CFRA Research, an investment research firm, also questioned Tesla's ability to maintain its rate of Model 3 production, downgrading the stock to "sell" from "hold".