According to Tesla, they built 2,020 Model 3s in the last seven days. They've now adjusted their expectations and have set a goal of 2,000 Model 3s for the next seven days. While they didn't meet there goal, Tesla is quite happy with their improvements. They've managed to double production rate by addressing bottlenecks and improving equipment.
The electric juggernaut expects production to continue to climb in the next three months. They're keeping their initial goal of 5,000 units a week by the end of the second quarter. The company wants to maintain their drive for as long as possible, wanting to achieve high volumes, solid gross margin, and strong positive operating cash flow by Q3.
We saw a total of 34,494 Tesla vehicles produced in the first quarter, a record for the company. About 30 percent of these vehicles were the Model 3 sedan. The automaker says output of the entry-level model fourfold compared to the previous quarter.
“This is the fastest growth of any automotive company in the modern era. If this rate of growth continues, it will exceed even that of Ford and the Model T.”
If I've learned anything in these last few years, it's that Tesla, and any other Elon Musk company, can do whatever they put their minds to. So I'm ready to believe their estimations.
