Share

Tesla reaches production targets and flies to Wall Street

Elon Musk announces the production of 5 thousand cars a week and prepares for the debut of the "low cost" Model 3 - Title in the running in the Wall Street pre-market

Tesla reaches production targets and flies to Wall Street

Tesla did it. After endless difficulties and alleged "conspiracies", the company led by Elon Musk has finally managed to produce 5.000 cars a week, milestone promised several times but never achieved so far, and can focus on the second big goal: the debut of the Model 3 which aims to upset the car market, beating the competition despite the copious delay accumulated in recent months.

The "low cost" electric car - costing 35 dollars - destined for the mass market would have already reached half a million orders, a record demand which, at this point, the Palo Alto company is preparing to satisfy.

The announcement made by Elon Musk surprised everyone, given the vicissitudes of recent times: Tesla has cut the number of its employees by 9%, it suffered 2 fires in the Fremont factory and, according to what the CEO declared a few weeks ago, it would even have suffered sabotage by a former employee.

The achievement of the production target therefore sent the markets and the Nasdaq pre-market into raptures Tesla stock gains 4,3% after exceeding 360 dollars in the pre-market. A rise that has allowed the electric car giant to surpass the stock market capitalization of General Motors – equal to 55,532 billion dollars – exceeding 58 billion.

(Last update: 16.33).

comments