Tesla stops Model 3 production temporarily amid financial concerns

Tesla to push for 6000 Model 3 cars per week by end-June, Musk says

Tesla produced 9,766 Model 3s in the first quarter and missed a goal to build 2,500 of the sedans in the last week of March.

Tesla had been under the pressure to prove to the Critics and investors that the company can increase the production of the electric mass market vehicle with $35,000 starting price.

We've reported over the past week on the "production hell" that has engulfed the Tesla Model 3.

Tesla did not immediately respond to a Reuters request for comment. However, a report by Jalopnik revealed that it's only producing around 2,000 per week.

According to Musk, Tesla needs to make 6,000 Model 3 per week by the end of June - an increase of the company's previous target of 5,000 per week.

Elon Musk had ordered the company to suspend the production of the Model 3 for the second time in recent weeks.

According to TechCrunch, more than $1k was raised as of publication to get the nearly $20 Billionaire a new bedtime sofa - a very socially responsible donation and in no way offensive to those working extra Postmates shifts so they can afford a used couch off Craigslist.

The email came a day after Tesla announced it will temporarily stop production of the Model 3.

To add to the extra shifts, Tesla has chose to hire 400 workers a week for several weeks.

Musk also clarified the reason for the latest halt in production, which reportedly occurred with relatively short notice to employees.

"Starting today at Giga and tomorrow at Fremont, we will be stopping for three to five days to do a comprehensive set of upgrades. This should set us up for Model 3 production of 3,000 to 4,000 per week next month", Electrek quoted Musk as saying.

Auto manufacturers typically stop or slow production of new models when ironing out problems with production. Tesla has not stated definitively that these issues have been completely resolved. The Wall Street consensus is at $320. That's thanks in large part to the company's investment in the Model 3, which isn't likely to earn a profit anytime soon.

Although it's quite obvious that Musk can afford to replace his own furniture with his estimate $20 billion worth, Tesla fans are a dedicated bunch that often praise the founder for his drive to transform technology to run on sustainable energy rather than the more harmful fuels.

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