Tesla plans to operate its Fremont, Calif. factory all day, every day in a last-ditch effort to increase weekly production of its new Model 3 cars to 6,000 by the end of June, according to an internal email that CEO Elon Musk sent to employees on Tuesday. The company had previously said it was targeting 5,000 a week by around the end of the second quarter.
According to Bernstein analysts, Tesla has not only automated stamping, painting and welding like most other manufacturers, but also tried to automate final assembly.
We've reported over the past week on the "production hell" that has engulfed the Tesla Model 3. Musk describes the contractor situation within Tesla as being like a "Russian nesting doll" and that some perform "worse than a drunken sloth".
According to TechCrunch, more than $1k was raised as of publication to get the nearly $20 Billionaire a new bedtime sofa - a very socially responsible donation and in no way offensive to those working extra Postmates shifts so they can afford a used couch off Craigslist. "This means that we will be adding another shift to general assembly, body and paint".
As Electrek reports, in the letter Musk confirmed that Model 3 production had reached 2,000 per week, which is double that attained in January.
Monday's announcement came just three days after Musk expressed confidence he could speed up production of the company's vehicles. And then, once further work is done on the line in May, he added that manufacturing 6,000 Model 3s per week will become the new requirement.
Investors are closely watching to see if Tesla is able to meet long-delayed targets and quickly ramp up the Model 3, on which the company's future profitability rests.
He also Tweeted Friday that Tesla would be profitable and cash flow positive in the 3rd and 4th quarters, with no need to raise money. That's thanks in large part to the company's investment in the Model 3, which isn't likely to earn a profit anytime soon.