Tesla finally hits Elon Musk's target for the Model 3

3 sedan is displayed during its launch in Hawthorne

In the email to his staff, Mr Musk wrote, "We did it!"

On Sunday, Musk also shared another company milestone on Twitter: Tesla has produced a total of 7,000 cars in a week (that's including the Model S and Model X units).

Tesla confirmed the contents of the email.

Tesla had stated in the past that they would produce 5,000 Model 3 cars a week by the end of the second quarter of the year.

Doug Field - who previously served head of Tesla Model 3 production until his April reassignment by CEO Elon Musk - opted to take a leave of absence in May in order to spend time with family and recover his energy.

Production of the mass-market Model 3 sedan has been hampered by several issues, including problems with an overreliance on automation on its assembly lines, battery issues and other bottlenecks.

With the news that the Model 3 target had finally been hit, Tesla's share price rose five per cent - but Musk still has his critics. "Whatever. It worked", he said.

Tesla now still has 420,000 Model 3 auto orders left to fulfill and plans to increase output from 5000 cars a week to 6000, whether or not their workers and machines can handle this speed still remains to be seen. Tesla says it projects the next two quarters will turn a profit for the company, which would be a welcome change. As of writing, Tesla stock (NASDAQ:TSLA) is trading up 5.30% at $361.16 per share.

LeBron James is joining the Lakers: What is your reaction?
James will make $25.65 million next season. "For today's meeting, Sixers will meet with LeBron James' reps, sources tell ESPN ". And for you bettors out there, George does have the best odds of being James' teammate in 2018-19 at 3-1 (+300).

LeBron James signs $154 million, 4-year contract with Los Angeles Lakers
Angeles on Sunday, a new report says. "That's the sense you get with him and his people", an anonymous GM told Sporting News . George is more of a natural small forward, but can slide over to shooting guard, if necessary.

Trump says Saudi agreed to raise oil output by 2 million barrels
Donald Trump says he's had a promise from Saudi Arabia that it'll ramp up oil production, by as much as two million barrels a day. Russia, Iraq, the UAE and Kuwait jointly have another million barrels, so there is spare production of 3 million barrels a day.

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.

"In the interim, we do not see this production rate as operationally or financially sustainable", said CFRA analyst Efraim Levy.

Musk set a new goal of building 6,000 Model 3s a week, perhaps by the end of August. Both orders and deliveries for Model S and X were higher in Q2 than a year ago.

Dave Sullivan, manager of product analysis at AutoPacific Inc. and a former manufacturing manager for Ford Motor Co., said reaching the 5,000-per-week won't make Tesla profitable by itself. The boost in productivity has been attributed to GA4, the new Tesla production line which is located in a tent.

At the end of the second quarter, 11,166 Model 3 and 3,892 Model S and Model X electric cars were in transit to customers.

Just last week, Tesla invited all Model 3 reservation holders in the U.S. and Canada to configure their auto and put in their order, a step that costs another $US2,500.

Despite originally touting the Model 3 as a $35,000 vehicle, Tesla has yet to begin building that basic version and instead is now building a higher-priced model as it tries to come out of "production hell".

Related news:

Hot News

isis-killer-beheading-video-story-top Lakers Rumors: 2 Best Trade Packages That Could Land Kawhi Leonard
Jul 03, 2018 - 07:13
Cousins was traded to the Pelicans during NBA All-Star Weekend in 2017, ending his six-plus-season run with the Sacramento Kings . However, Griffin believes that the Lakers will have to narrow things down and add only one of those superstars to their lineup.

isis-killer-beheading-video-story-top Oregon State's use of freshman pitcher in CWS was borderline abuse
Jul 02, 2018 - 08:21
I was going to give it everything I had. "Being able to hug my teammates and celebrate my last college game is the best ever". Momentum is on Oregon State's side not only because of the fact it won Game 2 , but due to the manner in which it happened.

OnePlus 6 red variant coming on July 2
Jul 02, 2018 - 07:50
So unless OnePlus changes the current pricing structure, this red variant will likely cost between $579 and $629. Putting all of this together gives away that the OnePlus 6 red variant could be launched early next week.

isis-killer-beheading-video-story-top Klutch Sports announces LeBron James decision to join Lakers
Jul 02, 2018 - 07:30
So much for the notion that stars would wait for James to decide his future before they would decide theirs. McGee and the Lakers reached an agreement on a one-year deal, worth the minimum, league sources tell ESPN .

French convict escapes from prison using a helicopter
Jul 02, 2018 - 07:01
In the 1990s, Faid led a criminal gang involved in armed robbery of banks and armored vans transporting money. A third gunmen had stayed in the helicopter with the pilot, who had been taken hostage.

isis-killer-beheading-video-story-top Chris Froome banned from Tour de France
Jul 02, 2018 - 06:59
Technically, while Froome awaits the result of an ongoing investigation into his Salbutamol case, he can still ride on the Tour. In the end, Astana did not take part because five of their team were implicated in doping individually.

Japan eases North Korea missile alert system
Jul 02, 2018 - 05:49
Xi said Beijing "will support Pyongyang's reform and opening-up policies, and willingly cooperate on various related issues". One official said: 'There's no evidence they are decreasing stockpiles, or that they have stopped their production'.

isis-killer-beheading-video-story-top Akinfeev the hero as Russian Federation shock Spain to reach quarters
Jul 02, 2018 - 05:27
But despite having the lions share of the possession, they could not make their dominance count as Russia's defence held firm. Suddenly, Russia are brimming with confidence and Spain look patchy at best.

isis-killer-beheading-video-story-top Cavs GM has had "good dialogue" with LeBron
Jul 02, 2018 - 04:57
James had already won two titles and gone to six Finals. "That's the only thing that's going to keep him in Cleveland". The final remnant left in Cleveland from the Kyrie Irving trade is even seizing the vacant jersey number 2.

isis-killer-beheading-video-story-top Sergio Ramos posted a lovely Instagram message after Spain lost to Russian Federation
Jul 02, 2018 - 04:50
It was a very hard and physical match. "Whenever you are knocked out of a World Cup , it is very painful". He also noted that thanks to Chechresov the team has made the impossible making it to the playoffs.

isis-killer-beheading-video-story-top Maryland shooting suspect had been fired by a government contractor
Jul 02, 2018 - 04:37
Ramos, 38, is being held without bond on five counts of murder after surrendering to police at the Capital Gazette . On Friday, Altomare said police ran the suspect's prints but "we had lag getting answers" from the computer system.

isis-killer-beheading-video-story-top Trump told what will speak with Putin
Jul 02, 2018 - 04:08
However, Putin and Trump talked on the sidelines of the forum and adopted a joint statement on Syria. Asked about lifting of sanctions on Russia, Mr Trump appeared to be non-committal.

#WC2018: Putin put no pressure on Russian Federation to beat Spain
Jul 02, 2018 - 02:47
There was another shock in the World Cup as Spain crashed out of the competition against Russian Federation . We will be back at big tournaments again.

isis-killer-beheading-video-story-top After a scarce supply in 2016, the NES Classic is available again
Jul 02, 2018 - 02:42
GameStop was first to offer the NES Classic Friday at midnight Eastern, followed by Best Buy and Think Geek. Regardless of whether you buy the system in-store or online, consoles will be limited to one per customer.

isis-killer-beheading-video-story-top Heat advisory issued as sweltering hot weather moves in
Jul 02, 2018 - 02:13
If someone has these symptoms, you should call 9-1-1 immediately and take action to keep that person cool until help arrives. Make sure to also check on any elderly neighbors as well as any kids and pets to make sure they are okay in the heat .