Tesla, which Chief Executive Elon Musk hailed on Sunday as having become a "real auto company", said it now expects to boost production to 6,000 Model 3s per week by late August, signaling confidence about resolving technical and assembly issues that have plagued the company for months.
No standard automotive solution could be built in time, so we created a new solution.
Tesla finally met the production goal for its mass-market Model 3 electric auto - producing 5,000 in one week. But the vast majority of those Model 3 vehicles were made in the second quarter of 2018. That number includes the 5,000 Model 3s, plus the usual run of the Model X and the Model S.
Wall Street was divided on whether Musk and Tesla could pull it off.
Mr Musk said in an email: "We did it!"
The 5,000th vehicle rolled off the assembly line at 5 a.m. on Sunday, five hours after Tesla's self-imposed deadline. Tesla CEO Elon Musk tweeted later that day the company had produced 7,000 vehicles in a week, a figure that includes Model S and X vehicles as well. About another 15,000 cars were in transit to customers, the company said. The company even built a massive tent structure outside its main assembly line, building a supplementary line from salvaged parts, Musk said.
The carmaker's short sellers, those who put money on a stock declining in value, lost roughly $2.5 billion on paper in the month of June, according to data from Ihor Dusaniwsky, managing director of predictive analytics at financial technology firm, S3 Partners.
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The company said in a regulatory filing Monday that it produced 5,031 Model 3s in the last week of the second quarter.
In April, Tesla said that by the third quarter, it would have the "long-sought ideal combination of high volume, good gross margin and strong operating cash flow", and that the company wouldn't require a capital raise this year.
Prices start at $35,000 (£26,650), whereas the starting price for the Model S and Model X are around $80,000.
The worker also said some areas within the factory were shut down to divert their workers to help out on the Model 3, such as the Model S line.
Doug Field, Tesla's second most senior engineer at Tesla after CTO JB Straubel, has been on leave from the automaker since May, but we now learn that he will not be returning at Tesla.
Musk has acknowledged the production struggles on Twitter, where he discussed sleeping at the factory while also blasting out photos of the tented assembly line, as well as armies of seats and other vehicle supplies destined for Tesla cars.
The Model 3 push has been tough for the company.