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Tesla has finally hit its weekly target production rate of 5,000 of its "mass-market" Model 3 electric auto thanks to a big tent.

U.S. electric vehicle maker Tesla has turned out 5,000 Model 3 sedans in the space of one week, meeting its long-promised production goal just hours after the company's latest self-imposed deadline of midnight on Sunday.

The accounts vary slightly: Elon Musk reportedly sent an internal email saying that Tesla hit the target of producing 5,000 Model 3 cars in a week.

The technologist wrote: "We did it!" "What an incredible job by an wonderful team". It had to hire more people to work at the factory. It is an honor.

"The level of dedication and creativity was mind-blowing". However, Tesla only made 2,685 Model 3 vehicles in 2017. Picture taken June 1, 2018. "I don't believe their goal was to simply hit 5,000 a week and somehow revert to a lower production rate in the future", Albertine said.

"We either found a way or, by will and inventiveness, created entirely new solutions that were thought impossible", he continued.

Tesla's heavily shorted shares rose as much as 6.4 per cent to $364.78 in early trading, after it reported producing 5,031 Model 3 cars in the last seven days of the second quarter.

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At the time, Musk stated in a tweet, "My job as CEO is to focus on what's most critical, which is now Model 3 production". The company badly needs cash from the compact cars to deliver on CEO Elon Musk's promise to post a net profit and positive cash flow in the third and fourth quarters.

Tesla said in April that it had about 450,000 orders for the Model 3. The challenge now is maintaining productivity.

The Model 3, which is built at a factory in Fremont, Calif., retails for as low as $49,000, according to the AP. In a regulatory filing, Tesla says it churned out 5,031 of the sedans-marketed as the company's entry to mass sales-in the last week of the second quarter, reports CNN. But it faced multiple delays, including over the use of robotic technology. "To be precise, my mistake".

The Tesla Model 3 quickly became one of the most anticipated cars in automotive history.

Mr Musk said in an email: "We did it!"

Q2 deliveries totaled 40,740 vehicles, of which 18,440 were Model 3, 10,930 were Model S, and 11,370 were Model X. Model S and X deliveries are in line with our guidance provided on May 3.

The Model 3, a relatively low-priced model for Tesla, is meant to transform the company from a niche maker of expensive, high-end, vehicles to a major auto manufacturer. Are more shutdowns in store, or does Tesla think it's achieved a steady rate of production?


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