Elon Musk Tweets About Forthcoming Tesla Pickup Truck

Elon Musk Tweets About Forthcoming Tesla Pickup Truck

"I think we just became a real vehicle company....", Musk wrote in an ebullient note to employees in response to increasing production.

Tesla's heavily shorted shares rose as much as 6.4 per cent to $364.78 in early trading, after it reported producing 5,031 Model 3 cars in the last seven days of the second quarter. But that's not all. More importantly, Model 3 production exceeded combined Model S and Model X production, totaling 28,578.

After months of "production hell", Tesla has finally reached its important Model 3 production target of 5,000 units per week.

Tesla has been dealing with the fallout from Autopilot crashes and overly aggressive Musk tweets in recent months, so a bit of positive news will do the company good.

The job cuts are part of a company-wide restructuring to address excess staff in some areas due to the company's speedy growth, Musk said in an email to employees. The company said roughly 1,000 vehicles were put together there in the last week of the quarter. The company said the new general assembly line was responsible for about 20 per cent of Model 3s produced last week.

Tesla has been under pressure to increase production to show it can operate profitably and at the kind of scale needed to be considered a major auto company.

"They were borrowing people from our line all day to cover their (Model 3) breaks so the line would continue to move", said a Model S worker on Sunday.

Amazon building network of delivery contractors
Amazon says successful owners can earn up to $300K per year in profit by operating a fleet of up to 40 delivery vehicles. Amazon says those businesses created under the program would operate 20 to 40 vans and employ between 40 and 100 people.

Kawhi Leonard determined to join LeBron with Lakers
According to ESPN .com's Darren Rovell, the franchise's valuation dipped by 25 percent when James left for the Miami Heat in 2010. Moving to L.A. will also help James expand his business interests and allow his children to attend high-profile schools.

Luka Doncic Trying to Recruit DeAndre Jordan to Mavs With Instagram Follow
The Clippers traded Blake Griffin to the Detroit Pistons last winter and Chris Paul to the Houston Rockets last summer . The New York Times' Marc Stein reports that the center will be the primary target for the Dallas Mavericks .

"The last 12 months were some of the most hard in Tesla's history", the company's statement said.

Meeting the goal hasn't been easy for Tesla. It also built 1,913 Model S and Models X vehicles, hitting its projections. During that call, Musk lashed out at Wall Street analysts who asked about the company's quickly vanishing cash reserves, dubbing such queries as "boring, bonehead questions".

On the other hand, the fact that a company that hasn't turned a regular profit is suddenly valued at $60 billion again because it managed to hit a production target for a single week is probably something worth thinking about.

But at the same time, Musk told employees that simply delivering all the cars it had pre-sold would require at least six months of "production hell".

But the response to its latest milestone has underscored long-simmering doubts about whether Musk's drive can produce lasting results.

Musk has said he plans to double Model 3 production to 10,000 as it adds a third production line at its Fremont, Calif., manufacturing plant.

As you'd expect from Tesla, Elon Musk has revealed all the specs and performance figures for both models ahead of time on Twitter, and they make for interesting reading.

Related Articles