Updated 02 November 2017
Tesla said it would now produce 5,000 of the cars each week by early 2018, instead of December.
The new target emerged as Tesla posted its biggest quarterly loss ever, sending its shares down more than 5% in after-hours trading.
Tesla has form on over promising and under delivering. Once again the delivery element of Tesla 3 is suffering major delays as the company struggles to deliver even a fraction of the orders it has to fulfill. Tesla seriously risks being over taken by the motor majors unless it gets into gear and starts delivering on true mass production. There is a risk investors are getting nervous when Tesla has burned through some $10 Billion and returned zero profit as yet for model 3 and others!
If there’s one thing the Internet likes, it’s a good slapfight, particularly when the arguing involves Tesla. The most recent outbreak of hostilities began on Thursday, when Tesla-skeptical Daily Kanban reported that parts of the Model 3 production line had not yet been installed in Tesla’s Fremont factory. The following day, Tesla CEO Elon Musk used Twitter to let us know that plans to unveil an electric semi truck had been pushed back three weeks—from October 27 to November 17—because company resources were needed to “fix Model 3 bottlenecks” and to increase battery production for Puerto Rico.
That same afternoon, The Wall Street Journal claimed that the 260-odd Model 3s that have been delivered thus far had “major portions” built by hand. That statement was strenuously denied by Tesla in response to a similar piece at Jalopnik, although the company did describe the Model 3 as being in “production hell.” Tesla also noted that it finds a strong anti-Tesla bias in the WSJ’s reporting. (That same day, the WSJ stopped just short of accusing Tesla of “misleading shareholders.”)