Update: According to Business Insider, fewer than 100 vehicles have actually made it through the “tent” facility, technically known as GA4 (or General Assembly 4) line since production began in early June. The publication also notes that it is “unlikely GA4 will provide the output Tesla needs to reach it’s 5,000 Model 3 goal for some time, according to one of the company’s employees.”
Business Insider also reported that Tesla has only built made around 6,000 Model 3s this month, well short of the 5,000/week quota set by Elon Musk.
* * *
Over the past week Tesla stock has enjoyed a torrid surge, driven by a short squeeze following an email to employees by CEO Elon Musk, in which he updated workers of the company’s plan to produce 5,000 Model 3 cars per week by the end of this month, and warning short sellers “they have about three weeks before their short position explodes“, supposedly a warning that the company will surprise Wall Street with either stellar (or at least positive) cash flow or production numbers.
Musk said the company is now producing “about 500” vehicles per day, or about 3,500 per week, adding that some parts of the production system have already reached the quota of 700 cars per day and praised staff for their hard work.
“It’s getting very exciting! All parts of the Model 3 production system are now above 500 and some are almost at 700 cars already. Congratulations to all on making so much progress,” Musk said in the email sent Friday night.
And yet, it wasn’t all clear skies, because Musk also said that there are a few bottlenecks preventing all parts of production from reaching the goal of 700 cars per day. “Radical improvements” are still needed on some parts of the production line, the real world Tony Stark lamented. That confused some investors: how can the company be on track to hit its quota yet be in desperate need of “radical improvements”?