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Tesla says no need for capital raise as Model 3 output rises
05 Abril 2018, 05:57 | Bibiana Flor
According to Elon Musk’s latest posts on Twitter Tesla hasn’t emerged from production hell just yet
Obviously he is incredibly committed to his work, and right now he's taking that to another extreme by being on the job 24/7 it seems.
The Bolt EV is officially the next best-selling all-electric car in the US, but the Model S and Model X are likely second and third, which would mean Tesla most likely has the 3 best-selling electric car models in the US.
The company is counting on the success of the new offering, the Model 3, to increase revenue and help pare its losses as Tesla invests heavily in the vehicles it hopes to offer in the future. The Model S was introduced about six months after Musk's target in June 2012, and the Model X was tardy by about two years when it hit the market in September 2015.
Model 3 has been quite the hot product for Tesla, but the company has been dealing with production issues.
Tesla built 2,020 Model 3 cars in the last seven days, trailing its target for a 2,500-unit rate for the final week of March. American Century Companies Inc. increased its holdings in Tesla by 8.9% during the 4th quarter. The exchange, with a reporter at The Information, a tech and business news site, followed a story by the outlet that Musk had taken over Model 3 production from Tesla's head of engineering, Doug Field. Its key is actually a card, and it uses short range radio-frequency identification (RFID) signals to communicate with the car.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, February 7th. Much of the bearish outlook was predicated on the continued dilution of shareholder equity due to relentless additional cash raises and the extreme hubris shown by CEO Elon Musk. Now that the faith has been shattered, the long awaited unwind in TSLA may have finally begun - watch out below. So it's no surprise that all this negative news is sort of swarming ahead of that potential catalyst. Insiders sold a total of 4,654 shares of company stock worth $1,559,211 over the last ninety days. On the positive side this is indeed a massive increase compared to the quarter ending in December 2017.
Room for a twin mattress We didn't actually camp out in the Model 3.
Central touchscreen The 15-inch touchscreen on the dash is central command for basically every non-driving function in the vehicle.
Launches may be more so the domain of Space Exploration Technologies Corp, Musk's rocket company, though Tesla has had its fair share of them, too.
Tesla added that the reason the car sustained such great damage was because a highway barrier "had been crushed in a prior accident without being replaced". "If this rate of growth continues, it will exceed even that of Ford and the Model T".
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