undergroundnewsroom.com
undergroundnewsroom.com December 11, 2017


Tesla falls short on Model 3 production

04 October 2017, 12:33 | Gordon Grant

Tesla said it would produce 1500 Model 3s in the third quarter — but it only made 260

Tesla Model 3 Production Is 84% Lower Than What Elon Musk Promised

Musk has previously predicted much higher deliveries for the Model 3 sedan by the end of the year.

"Let's face that the Model 3 is actually sort of a beta test right now", short-seller Jim Chanos, who's betting against Tesla shares, said on Bloomberg Television last week.

Model 3. Image source: Tesla.

It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain.

The company conceded in a note to investors on Tuesday that Model 3 production was "less than anticipated due to production bottlenecks". Further, the EV maker said that it is aware of what needs to be fixed, and are confident of resolving the issues in the near-term. It would have been nice to hear what the current production rate is and perhaps a new forecast for the production ramp. Relax, people - Elon has got this.

The two automakers are also racing to take a lead in making driverless cars. At the high end, the Model 3 goes for $59,000.

Musk and his employees know they have a hard task ahead of him.

Who Is Geary Danley? 4Chan Falsely Identifies Las Vegas Shooting Suspect
Conservative writer Joe Hoft pounced, publishing and then retracting an article about the misidentified man. Twitter said it too was stepping up efforts to weed out false reports on the shooting.

Tillerson 'wasting his time' negotiating with North Korea
Millions of young men and 1.22 million women said they wanted sign up to counter the USA since Friday, the Rodong Sinmun newspaper reported.

Lewis Hamilton backs NFL players' choice to make political stand
Earlier, in first practice, Max Verstappen posted the fastest time, followed by Red Bull teammate Daniel Ricciardo . I don't really know where it came from, to be honest, so I'm a little bit surprised at myself.

"Most auto launches have hiccups, and Tesla is no exception", Jonas said. To facilitate the lower price, Tesla's plan is to lower costs by producing lithium batteries at the Gigafactory that will be used in the cars. Tesla Motors blamed the delay on production bottlenecks.

The moves also followed a series of announcements by rival General Motors on its own electric auto ambitions, which included a promise to take "bold steps" towards the first completely driverless vehicles. A little over half of those were Model S sedans; the rest were Model X SUVs and the handful of Model 3s.

If you are now waiting for your Model 3 to arrive, you're in a bit of a tough spot.

It appears the company couldn't escape the manufacturing complexity entirely. However, this year at least, Tesla is falling behind on Model 3 production. That included 22,026 cars combined in the second quarter.

Tesla reported that they expect to deliver around 100,000 Model S and Model X vehicles in the full year of 2017.

That sounds reasonable unless you remember that Tesla has said that it will deliver 500,000 vehicles in 2018, and with production seemingly capped at around 100,000 for Model S and Model X, the bulk of that has to be Model 3.



Other News

Trending Now

Jennifer Lopez to donate $1 million to hurricane relief in Puerto Rico
Dallas Mavericks owner Mark Cuban has given the team jet to JJ Barea , who will bring resources to his home country of Puerto Rico.

Myanmar tells UN Rohingya refugees can return from Bangladesh
Diplomats and United Nations officials meet with villagers of Muslim village Ah Nauk Pyin in Rathedaung Township on Monday. The trouble erupted on 25 August when Rohingya militants attacked security posts , triggering a military crackdown.

Chelsea suffer fresh blow as Morata will miss up to six weeks
Michy Batshuayi is the obvious replacement for Morata, but Conte had rarely turned to the young striker to lead Chelsea's line. Morata's injury is a blow but with the global break scheduled, it has come at the best possible time for Chelsea .

Regional Powers Move to Restrict Kurds Following Referendum Vote
The neighbouring countries such as Turkey and Iran have also said that they are ready to help Baghdad carry out those measures. Tehran does not recognise the independence vote and has been increasing pressure on the Kurdistan region after the referendum.

US Intercept of NK ICBM Would Be Over Russia
North Korea, for its part, says it needs to develop its weapons to defend itself against what it sees as USA aggression. DPRK stands for the North's official name, the Democratic People's Republic of Korea.

Signs of Kim Jong-nam being poisoned, doctor tells court
North Korea has refused to accept the dead man was Kim Jong Un's half brother, suggesting instead he died of a heart attack. Their lawyers argue the women were duped and the true culprits were North Korean agents who told the women what to do.

England 'haven't got a hope in hell' of winning Ashes: Chappell
The England and Wales Cricket Board says both players remain on full pay and will be the subject of a disciplinary commission. Even without Stokes in Australia, England will have an all-rounder in Moeen who has enjoyed a golden summer.

Julio Jones leaves Falcons game with hip injury
He led the NFC with 1,409 yards on 83 catches last season and came into the Bills game with 16 catches for 265 yards this year. The Atlanta Falcons and Buffalo Bills are set to face off in one of the most-exciting match-ups of the entire weekend.

United States steamrolling Internationals at Cup
Leishman came out swinging, making birdie on two of the first three holes to put the Americans in an early deficit. World Number 1 Johnson caught fire on the back 9 and wrapped up the match for the USA on the 16th winning 3 & 2.

Russell Westbrook, Thunder agree to five-year extension
The timing of Westbrook's decision to sign the extension has also been a topic of interest across social media. Players as good as he is have the room to slip due to age while remaining incredibly valuable.