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Tesla claims to have achieved its goal of building 5,000 model 3 cars a week, after building an additional production line inside a tent in the parking lot of its Freemont plant, which which helped the builder
The new line accounted for one-fifth of the 28,000,578 Model 3 vehicles it built in the last quarter and helped the company achieve its "faster" goal, The main factory in the interior has increased production, said Tesla on Monday.
In an update that resulted in a 5% increase in shares in early transactions, the company also reiterated its earnings guidance and a positive cash flow in the third and fourth quarters, despite the strength of the dollar and "the probability of higher tariffs by China for imported vehicles, as well as for components provided by China."
Model 3, Tesla's attempt to move towards the mass market, was confronted with production problems, from its battery to the vehicles themselves.
The goal of producing 5,000 vehicles per week, set by Elon Musk, has been delayed several times.
On Monday, Tesla said that "soon" its line inside the plant could manufacture 5,000 model 3 cars a week, and that the company plans to increase production to 6,000 model cars 3 per week by the end of next month. In the last seven days of the quarter, Tesla produced 5,331 model 3 units and 1,913 S and X model vehicles.
Musk tweeted that the company had produced 7,000 vehicles last week.
Steve Armstrong, executive director of Ford's European division, said the US automaker produced the same number of vehicles in just four hours.
The electric car maker said: "The last 12 months have been among the toughest in the history of Tesla, and we are very proud of all the Tesla team that has managed to reach the production rate of 5 thousand units of the model 3. "
In the quarter ending June 30, the company produced 53 thousand 339 cars, of which more than half were the model 3.
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