Elon Musk: Tesla is preparing to increase Model 3 production substantially
Electric vehicle manufacturer Tesla Motors CEO Elon Musk has informed company employees in a recent email that preparations are underway at the company to substantially increase production of Model 3 units. Tesla Motors stock faced decline as the company wasn’t able to achieve earlier set target for Model 3 deliveries. The mass market Tesla Model 3 will be crucial for the company to prove its ability to deliver on its promises and investors are keeping a close watch on Model 3 delivery data.
Musk also said that to achieve the mentioned objective, Tesla is shutting down Model 3 production for 3-5 days in Gigafactory 1 and Fremont, so that a comprehensive set of upgrades can be delivered at the two facilities.
According to Musk’s email to Tesla employees, the forthcoming upgrades at Gigafactory 1 and Fremont will pave the way for increasing Model 3 production to 3000-4000 units per week from May 2018.
Musk also added alongside that another set of upgrades scheduled to commence in late May will enable Tesla to unlock a targeted production capacity of 6000 Model 3 units per week by June-end; thereby marking a potential two-fold increase in the production of the vehicle. After accounting for a margin of error, Tesla is hopeful of achieving 5,000 Model 3 units per week, across all production processes and suppliers, in June.
In a further elaboration of Tesla’s Model 3 plans going forward, Musk said in the email: “By having a Model 3 subsystem burst-build requirement of 6k by the end of June, we will lay the groundwork for achieving a steady 6k/week across the whole Model 3 system a few months later.”
In an announcement made during Ford’s latest financial report this week, CEO Jim Hackett said that passenger cars are being phased out by the automaker, with its focus having shifting chiefly to electric vehicles (EVs) and trucks.
In a recent confirmation about the upcoming availability of the Tesla Model 3 electric vehicle for orders, Tesla Motors CEO Elon Musk informed that Model 3 orders will be accepted by the automaker next week.
In an announcement made on August 23, Singapore-based ride-hailing company Grab has revealed that it plans to introduce 200 new electric vehicles (EVs), which will progressively hit the roads from 2019.
A new survey carried out by Venson Automotive Solutions has drawn attention to the apparent reluctance of UK motorists in terms of making the switch to electric vehicles (EVs).
In a recently-published report, electric-vehicle sales database EV-Volumes has revealed that the sales of electric cars in Europe recorded an increase of more than 40% during the January-June 2018 period.
British energy company BP has announced that it is investing an amount of $20 million in Israeli startup StoreDot which is known in the battery world for its ‘ultra-fast charging battery.’