Tesla (NASDAQ:TSLA) the ‘Failures and Fury’

Tesla (NASDAQ:TSLA) the ‘Failures and Fury’

Tesla (NASDAQ:TSLA) the ‘Failures and Fury’

$TSLA

Last Thursday, Tesla Inc (NASDAQ:TSLA) declared that it is on track to achieve its production targets for the Model 3, directly contradicting a report of further delays and quality issues for its latest and most-affordable sedan.

Tesla’s problems with battery production at its Gigafactory in Sparks, Nevada, are worse than it had acknowledged, it was reported early in the day, citing some company employees.

“To be absolutely clear, we are on track with the previous projections for achieving increased Model 3 production rates that we provided earlier this month,” a Tesla spokesman said in a e-Mailed statement.

“As has been well documented, until we reach full production, by definition some elements of the production process will be more manual,” the spokesman said.

Earlier this month, Tesla delayed a production target for the Model 3 for the 2nd time, disappointing investors even as it claimed “major progress” overcoming manufacturing challenges that have hampered the EV’s roll-out.

Tesla currently plans to make about 2,500 Model 3s per week by the end of Q-1 Y 2018, 50% the number earlier promised investors and buyers. It expects to reach its goal of 5,000 vehicles per week by the end of Q-2, it said in the statement.

Curious, Tesla’s hypmeister CEO Elon Musk is not talking or Tweeting.

Symbol Last Trade Date Change Open High Low Volume
NASDAQ:TSLA 342.85 26 January 2018 5.21 341.5 344 335.71 4,538,000
HeffX-LTN Analysis for TSLA: Overall Short Intermediate Long
Neutral (0.23) Bullish (0.27) Neutral (0.10) Bullish (0.31)

Have a terrific week.

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