While EV company Tesla has begun to increase the number of Model 3 vehicles it can make, it’s still struggling to hit its own numbers.
In a release on Wednesday afternoon, the company run by billionaire entrepreneur Elon Musk said it plans to hit a milestone of making 5,000 Model 3 vehicles per week by the end of the second quarter of this year.
But late last year, Tesla said it planned to hit that 5,000-car-per-week production rate by "late Q1." Previously, Tesla was trying to manufacture Model 3s at that rate sometime in 2017.
The new forecast puts Tesla closer to six months behind its original estimate for ramping up Model 3 production. The car is the company’s first lower-cost, mass-market-oriented electric vehicle, and hundreds of thousands of customers have reserved one.
The recurring delays, while not unexpected, highlight how difficult it is for Tesla to predict its
The finale to Tesla CEO Elon Musk’s glitzy <a href="https://www.greentechmedia.com/articles/read/tesla-electric-semi-truck-toughest-musk">semi-truck unveiling</a> last week in Southern California featured a surprise product launch and a <a href="https://www.bloomberg.com/news/articles/2017-11-17/tesla-charges-up-to-250-000-for-resurrected-roadster-sports-car" >familiar</a> fundraising strategy. Shortly after Musk finished rattling off stats about the new electric semi, a bright red sports car drove out of a fog-filled trailer and onto the stage, as the crowd erupted with cheers.<strong> </strong>It was the next-generation Roadster -- an updated version of Tesla’s original groundbreaking luxury electric sports car, which was first revealed almost a decade ago. As soon as the car emerged at the event, potential customers had the chance to reserve one. This isn't the first time Tesla has asked customers to <a href="https://www.greentechmedia.com/articles/read/tesla-reports-325000-model-3-orders-analysts-see-production#gs.8fDW6X4">pay for a product</a> they won't receive for several years, but the new Roadster brings the creative financing model to a whole new level. For the first thousand customers willing to put down $250,000 in up front cash for the <div class="post-limited-image"><img src="http://feeds.feedburner.com/~ff/GreentechMedia?d=yIl2AUoC8zA" border="0"></div>
In a brutal <a href="https://www.greentechmedia.com/articles/read/tesla-delay-model-3-production-q3-loss#gs.1porOQE">earnings call last week</a>, electric carmaker Tesla revealed that the company may have to push back a ramp up of production of its Model 3 electric car by three months, into March of next year. Originally, Tesla wanted to grow its production of the Model 3 to 5,000 units per week by the end of 2017. But the company, run by billionaire entrepreneur Elon Musk, has hit bottlenecks in manufacturing and won’t make that timeline. As of the end of the third quarter of 2017, Tesla had delivered just 222 Model 3 cars. While Musk tried to downplay the adjustment -- <a href="http://www.nasdaq.com/aspx/call-transcript.aspx?StoryId=4119419&Title=tesla-tsla-q3-2017-results-earnings-call-transcript" >calling it</a> “a relatively small shift” -- the timing of the delay could have important implications, particularly when it comes to one key factor: the expiration of a significant federal tax credit. With the new timing, fewer Model 3 customers will be able to tax <div class="post-limited-image"><img src="http://feeds.feedburner.com/~ff/GreentechMedia?d=yIl2AUoC8zA" border="0"></div>