Bizarre Campaign To Crowdfund A New Couch For Elon Musk

19 April, 2018, 02:03 | Author: Franklin Nunez
  • Tesla to build 6,000 Model 3's per week till June-end Musk

That would move Model 3 production up to round-the-clock levels.

A Tesla Model 3 seen in a showroom in Los Angeles January 12, 2018.

"I can' t imagine that Tesla can reach an output of 5,000 cars per week until the end of June", said Frank Schwope, an analyst with NORD/LB.

In fact, the shutdown may be being used to reduce automation on the Model 3 line using more human production and fewer robots or conveyor belts, as Tesla CEO Elon Musk alluded to in a Tweet on Sunday. Delays and lower-than-expected volume have postponed revenue from cars being delivered to customers from reaching Tesla's bottom line.

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The upgrades Tesla are making while idling the plants this week "should set us up for Model 3 production of 3000 to 4000 per week next month", he wrote. Musk describes the contractor situation within Tesla as being like a "Russian nesting doll" and that some perform "worse than a drunken sloth".

The company says it warned of future production pauses when it shut down the line to improve automation in February. "This means that we will be adding another shift to general assembly, body and paint", Musk wrote in an internal email obtained by Electrek.

Referring to the strenuous work as "production hell", he has even admitted to sleeping on a couch in a conference room at his Tesla factory in Fremont, California.

He added that the company needs to make 6,000 units of the Model 3 per week by the end of June in order to meet its goal.

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Still, the planned production halt points to more than just unlocking production potential; several industry observers indicated that complete stoppages lasting several days are more indicative of persistent problems in assembly, rather than a planned increase in output.

"While temporary suspensions to production, in order to improve manufacturing engineering/line rates, are not uncommon in the auto industry, particularly during a ramp-up, we believe that the news will once more be taken negatively by the market; providing more honey to the bears", Evercore ISI analysts said. The Wall Street consensus is at $320.

Musk, who has said his automaker will be profitable and cash-flow positive in the third and fourth quarters and won't need another capital raise this year, also outlined cost-saving measures in his email. 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.

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