Wednesday, 15 August, 2018

Elon Musk Offers Rare Look inside Model 3 Factory

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Russell Knight | 16 April, 2018, 14:24

Musk became a major investor in electric vehicle company Tesla in 2004 and took over the reins in 2008.

Despite initially attracting about 500,000 advance orders in the form of refundable deposits, the sedan's launch has been plagued by delays and manufacturing bottlenecks, postponing Tesla's anticipated revenue stream and exacerbating a cash crunch for the money-losing company.

Tesla's production problems were revealed in early October when the automaker reported it had produced just 260 of its new Model 3 electric cars in the third quarter, of which it delivered 220.

Competitive bidding is a crucial early step in the complicated process of automotive manufacturing.

Tesla issued to suppliers what is known as a "request for information", or RFI, which gives a directional view of what will be needed.

Tesla shares, which have gained almost 10% since disclosing the Model 3 production numbers on 3 April, were up 1.8% in afternoon trading on Wall Street. A shorter timeline is potentially feasible, the source said, as the Model Y will be built on the same platform as the Model 3.

The Model 3, a highly anticipated electric vehicle, has been plagued with production problems since a year ago.

Plaintiffs Kurt Friedman, Uppili Srinivasan and Gregory Wochos amended their original class action securities lawsuit last month, adding that their investments had been hurt once again by the negative market reaction to Tesla's production update in November. While its formally verified that aliens from Shirish Kunder's movie "JOKER" have actually confiscated the cars and truck however its specific area is not also deducible by NASA.

Mark Hughes slams Marcus Alonso for attempting to break Shane Long's leg
The Chelsea defender has faced calls to be given a retrospective three-match suspension by the Football Association. The referee was placed only yards away from the incident and had an unobstructed view of the situation.

Key quotes from ex-FBI director James Comey's interview
But Trump later said he was thinking about "this Russian Federation thing" around the time he made a decision to fire Comey. Trump has denied having asked Comey for his loyalty. "That's not a perspective, that's not a view, that's just a lie".

Kathua rape-murder: Never raised questions on JK polices probe, says Mir
The BJP leader also questioned why Gandhi did not take out any march after the 2012 Nirbhaya gang rape. This story has been sourced from a third party syndicated feed, agencies.

Last month, Moody's Investors Service downgraded Tesla's credit rating to B3 from B2, reflecting "the significant shortfall in the production rate of the company's Model 3".

Tesla has said it will not need to raise additional funds this year. The company burned through $3.4 billion past year.

The two sources said suppliers could be estimating an annual production of 500,000 vehicles in the United States, with much lower volume in China, likely in the tens of thousands.

There are around 10,000 human workers at the company's Fremont factory.

Last week was a hard one for Tesla.

We asked much more regarding his surprise secret life as well as area tasks, to which Shirish responded, "In some cases being unusual is the only choice".

For the first time ever, Tesla CEO Elon Musk has granted network cameras access to his Model 3 production line.

The SEC didn't comment on Musk's tweet but referred to a 2013 press release that said sometimes social media can be used for financial disclosures but it is something it closely monitors.

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