Tesla met a goal of rolling out 5000 Model 3 cars in a week. It seems that Tesla's short sellers are in for a 'rude awakening'

02.07.2018 / 09:36

Rating:

On Sunday, Tesla CEO Elon Musk said the company managed to meet a self-imposed deadline to produce 5,000 Model 3 cars in a week.

The car maker had been under intense pressure to deliver on the sedan, something seen by analysts as integral to Tesla breaking into the mainstream.

Tesla has repeatedly missed production targets and failed to reach profitability. Despite those factors, the company pulled out all the stops to produce 7000 cars in total last week.

On Sunday, Musk sent an effusively worded communication to all employees, thanking them for their hard work, adding that the company became "a real car company" in the process.

You can read a full copy of the email Musk sent to Tesla staffers below:

From: Elon Musk
To: Everybody
Subj. 7000
Jul. 1, 12:37 PM

We did it!! What an incredible job by an amazing team. Couldn’t be more proud to work with you. It is an honor.

The level of dedication and creativity was mind-blowing. We either found a way or, by will and inventiveness, created entirely new solutions that were thought impossible.

Intense in tents. Transporting entire production lines across the world in massive cargo planes. Whatever. It worked.

Not only did we factory gate over 5000 Model 3’s, but we also achieved the S & X production target for a combined 7000 vehicle week!

What’s more, with the widespread productivity gains throughout Tesla and the new production lines spooling up, we are on track to reach 6k/week for Model 3 next month.

I think we just became a real car company …

Thank you for your hard work and dedication,

Elon

Most likely, Tesla's stocks will open higher today. It seems that Musk will hold on his promise to Tesla's short sellers for a 'rude awakening'.

Source: CNBC

Trader Georgi Bozhidarov

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Tesla met a goal of rolling out 5000 Model 3 cars in a week. It seems that Tesla's short sellers are in for a 'rude awakening'

London

Universal numbers