Tesla is looking to significantly increase Model 3 production in the current quarter as it attempts to turn its revenues profitable.
While we’ve yet to witness this production increase, our tracking of Tesla’s production shows that the automaker is able to maintain production of close to 1,000 vehicles per day.
Last quarter, we closely tracked Tesla’s production on what turned out to be the company’s biggest quarter ever, with just over 80,000 vehicles produced, including over 53,000 Model 3s.
Tesla’s production is not as exciting at the beginning of a quarter, but we are still keeping a close eye on the expected production ramp-up set to happen by the end of the year.
According to a reliable source familiar with the company’s production, Tesla has produced about 6,800 cars, including around 4,800 Model 3’s, over the last week.
It adds up to about 12,200 Model 3’s and just over 18,300 vehicles for this quarter as of early this morning.
The biggest takeaway is that Tesla is now about to maintain a production of about 1,000 vehicles per day and close to 7,000 vehicles per week – including nearly 5,000 Model 3 vehicles.
While some industry analysts are quick to say that a rate of 1,000 vehicles per day is nothing compared to what some legacy automakers are producing, none of them can claim a production capacity of long-range electric vehicles anywhere near what Tesla is currently producing.
With yesterday’s launch of a new Model 3 with a ‘mid-range’ battery pack for $45,000, Tesla confirmed that its manufacturing capacity is now more “steady”:
“As Model 3 production and sales continue to grow rapidly, we’ve achieved a steady volume in manufacturing capacity, allowing us to diversify our product offering to even more customers.”
Last weekend, Tesla reached the milestone of 100,000 Model 3 vehicles made over a year after starting production.
The majority of those vehicles were all produced during the last quarter.
Tesla now aims to produce another 100,000 Model 3 vehicles by the end of the first quarter of 2019.
I know — production numbers are not nearly as exciting early in the quarter, but we need to keep a close eye to see if and when Tesla is able to finally increase Model 3 production to over 5,000 units per week.
Some bottlenecks, like Panasonic’s battery cell production at Gigafactory 1, are expected to soon be fixed and enable a production ramp, but the exact timing is hard to pinpoint, which is why we keep you updated every week.
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