Tesla "just became a real vehicle company" after reaching a critical milestone

3 sedan its first car aimed at the mass market is displayed during its launch in Hawthorne California

Tesla 'real car company' after hitting Model 3 goal, Musk says

On Sunday, Musk also shared another company milestone on Twitter: Tesla has produced a total of 7,000 cars in a week (that's including the Model S and Model X units).

News that Tesla had hit the 5,000-per-week target came out Sunday as the last Model 3 rolled off the assembly line and employees celebrated. All eyes had been on Elon Musk & Co. after the Tesla team promised a new Model 3 production milestone; now, a new target has been set.

For the second calendar quarter, Tesla says it produced a total of 28,578 Model 3 cars-almost triple the 9,766 it produced in the first quarter and vastly more than it produced previous year. Tesla introduced the model 3 in the year 2016, and Tesla planned to produce 5,000 Model 3 cars a week in 2017 and 10,000 a week by 2018.

But the stock sank after several analysts questioned whether Tesla would be able to sustain the Model 3 production momentum, which is crucial for the long-term financial health of the company.

However the company still fell short of what Wall Street had expected for total deliveries.

"We did it! What an incredible job by an unbelievable team", Musk wrote to employees in an email. A year later, he was giving Electrek's Seth Weintraub a test drive in Tesla Model S P85D. To make the goal, he even built a tent to house a third general assembly line at the Fremont, California, factory.

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In recent months, the company has engaged in so-called "burst builds", temporary periods of fast-as-possible production, which it uses to estimate how many cars it is capable of building over longer periods of time.

The company produced just 2,425 in the fourth quarter.

Pricing starts at $35,000 for the auto, and about 450,000 have been pre-ordered by consumers. Last month, Musk said the carmaker should achieve its target by the end of June.

As we have reported, the production of the Model 3 has been far from smooth for Tesla, with Musk himself repeatedly describing it as being in various levels of "hell," as problems with certain factory lines and vehicle components were nutted out. It is not clear how numerous orders are for the more premium version. During the second quarter, however, Tesla dug deep in order to overcome its production challenges, with the company resorting to unusual solutions, such as air-freighting robots from Europe and setting up a new assembly line in a sprung structure, in order to improve its chances of attaining its Q2 0218 production goals.

While it produced 53,339 vehicles, Tesla said it delivered 40,740 vehicles.

If Tesla managed to put off the 200,000th delivery until after June, tens of thousands more customers will have a chance to take advantage of the full credit.

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