Tesla reduces production goals for Model 3 cars

Tesla reduces production goals for Model 3 cars

According to The Verge, citing annual report of the company and an annual income of Tesla was $ 3.3 billion, but the total net loss was equal to us $2.24 billion, which Is three times more loss for the company in 2016, amounting to 773 million dollars.

This sparked some confusion, causing investors to wonder if Tesla was as sure as it said it was in its shareholder letter about hitting a weekly production rate of 2,500 Model 3s by the end of the quarter.

"The "2,000 to 2,500" units per week cited in this comment refers exclusively to the capacity of the additional automated battery module manufacturing equipment that is now located in Germany, and not to Tesla's total Model 3 production run rate or to the capacity of the automated battery module equipment that is already present at Gigafactory 1", Tesla wrote in a Friday 8-K filing.

Tesla has come a long way since it sued Top Gear over Jeremy Clarkson's review of the Tesla Roadster in 2011. But it concluded with Top Gear claiming the vehicle ran out of juice after just 89km, much shorter than Tesla's claimed 322km range. The model received more than 400 orders in one month.

At the beginning of the Model X review segment in the latest episode of The Grand Tour, Clarkson explains how he swore off Teslas for life after the company's lawsuit.


The niche carmaker has made inroads among luxury auto buyers with the advanced technology and innovative design in its Model S sedan and Model X SUV. Overall the vehicle deliveries have grown by 35 % as compared to previous year and has been the reason for 36% increase in automotive revenue according to Tesla.

The department tasked with pulling that off will now be reporting directly to the CEO after Lyft hired away Jon McNeill, who had been president of global sales and service at Tesla and an influential figure at the company.

But some analysts have questioned whether his myriad of other interests, from space exploration to tunnel boring technology, are a distraction at a critical time within Tesla. Negative free cash flow was just $277 million in the fourth quarter - the lowest in more than a year - after two straight quarters of more than $1 billion.

Excluding items, the company lost $3,04 per share, above the $3,12 per share loss expected by analysts. Since the Model 3's launch, Tesla has repeatedly missed targets for the important vehicle.

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