Tesla (NASDAQ:TSLA) Model 3 in ‘Production Hell’
- In response to a Tesla customer asking if he would get his car delivered this year, Mr. Musk tweeted, “December will be a big month, so probably, but it is impossible to be certain right now.”
Friday, Tesla Inc’s (NASDAQ:TSLA) CEO Elon Musk pushed back the unveiling of the company’s big rig truck until mid-November, saying that the EV maker was diverting resources to fix production bottlenecks of its new Model 3 sedan and to help Puerto Rico.
Mr. Musk said Tesla’s Model 3 was “deep in Production Hell” echoing his own comments in July, when he showed off some of the 1st virtually hand made (not production examples) cars of that model.
A WS-J report said parts of Model 3 were being made by hand as recently as early September, adding to production delays.
Mr. Musk’s comments came after the close of stock trading Friday. The company’s shares fell 0.8% in extended trading.
Mr. Musk also Tweeted the company was diverting resources to increasing battery production to help hurricane-hit Puerto Rico, where most residents remain without electricity.
Last week Tesla reported that “production bottlenecks” had left it behind the planned ramp-up for the Model 3.
In response to a Tesla customer asking if he would get his car delivered this year, Mr. Musk tweeted, “December will be a big month, so probably, but it is impossible to be certain right now.”
Mr. Musk also said Tesla would reschedule the unveiling of its semi-truck to 16 November as it focuses on fixing production issues tied to Model 3 and increases battery production for Puerto Rico.
The unveiling of the truck, called Tesla Semi, has been delayed for the 2nd time this year. Mr. Musk said the truck would be unveiled in September, but he later rescheduled it to late October.
Our John Heffernan reported in August reported that the truck would have a working range of 200-300 miles.
Tesla’s Hypemeister Elon Musk is forever delivering excuses, missing deadlines and losing huge amounts of money.
|HeffX-LTN Analysis for TSLA:||Overall||Short||Intermediate||Long|
|Neutral (0.17)||Neutral (0.13)||Neutral (0.23)||Neutral (0.15)|
Have a terrific week.