Tesla production leader Doug Field exits company

Tesla 'real car company' after hitting Model 3 goal, Musk says

Tesla filed a lawsuit this week against a former employee that Elon Musk claimed had engaged in sabotage, in a companywide email sent by the Tesla CEO last week.

Tesla stock finished June with a 20% gain in share price, its best monthly performance in nearly four years, according to Bloomberg.

Tesla has received around 450,000 Model 3 reservations but the cheapest version of the vehicle, priced at $35,000, is not yet available to customers.

Explaining the cause behind a string of delays, Musk earlier this year took the blame and said that the company, at his insistence, relied too heavily upon automation.

The mass-market sedan is engineered for highly automated production, dismissing traditional processes in favor of new manufacturing technologies. The automaker also produced 1,913 Model S and Model X vehicles in those same seven days. He even shipped an extra battery production line in from Germany, which Tesla put under a tent.

Asked about the potential S and X impact, Tesla said it also produced 1,913 of those vehicles during the last week of the quarter along with its Model 3s.

Tesla's Model 3 announcement was an eagerly awaited update, although AutoPacific's Sullivan does have a point that repeatability is essential in order for the Model 3 to become the success Tesla needs it to be. Given Tesla's history of missing deadlines, we'll have to see it to believe it. The Guggenheim Securities analyst also noted stated that Tesla's in-house development of the vehicles' components would prove to be a difference-maker.

Tesla shares fell on Wall Street last night, closing down 2.3 per cent, or $7.88, at $335.07.

After working around the clock for weeks on end to surpass a production goal, Tesla Inc.is pausing some Model 3 production this week, according to people familiar with the matter.

The Model 3, which starts at U.S. $35,000, is the key to turning Tesla from a niche maker of expensive electric cars to a profitable, mass-market automaker.

"He (Musk) is gonna go through an very bad lot of people because people are gonna start getting hurt left and right", by the fast-moving assembly line, the worker said. Moody's warned that Tesla's failure to produce at least 5,000 units per week for the supposedly high-volume "Model 3" by the end of the second quarter might result in the company's financial sustainability being questioned and its credit rating slashed to "junk".

In recent months, the company has engaged in so-called "burst builds", temporary periods of fast-as-possible production, which it uses to estimate how many cars it is capable of building over longer periods of time. Because if the tent was running 24/7 that week, then a Model 3 was rolling off that line at an average rate of one every 10 minutes, far slower than at traditional auto plants. Wall Street investors, who have pushed the company's stock beyond $340 per share, are growing impatient with the losses.

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