Tesla shares surge after Model 3 production update and record deliveries

Tesla shares surge after Model 3 production update and record deliveries

Tesla shares surge after Model 3 production update and record deliveries

"This is the fastest growth of any automotive company in the modern era", Tesla says in the Q1 production and deliveries report.

Tesla may have steered itself away from a financial precipice, after the USA electric carmaker announced that it had finally started to produce its Model 3 on a scale that could lead it to the mass market. As a result, Tesla does not require an equity or debt raise this year, apart from standard credit lines.

Invest wisely, my friends.

Shares in electric auto firm Tesla have risen after it announced a boost in production of its cheaper Model 3 cars in the first quarter.

Tesla has admitted that trying to improve Model 3 production required moving resources off the luxury Model S and Model X assembly lines. In the past seven days, it produced 2,020.

Tesla Inc. fortunes took another hit following a rocky weekend which saw the electric automaker's stock price (NASDAQ: TSLA) fall just over five percent when markets reopened on April 2, with investors anxious about the company's finances and production capabilities.

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Fresh off the worst month for Tesla shares in more than seven years, the company reported a rate of Model 3 sedan production that again fell short of its forecast, while standing by the next target for its debut mass-market auto.

The quarterly production rate of the Model S, X and Model 3 combined increased by 40% from the previous fourth quarter. The story really hinges on the Model 3. Moody's warned that the company might need to raise another $2bn (£1.4bn) to remain solvent, and that its rating was likely to be downgraded further if it failed to meet its production targets.

You can view Tesla's stock in real time here. The share price has dropped lately, but so has the amount of short interest.

"So if they're on track, even 2,500 units per week within the next few weeks or months still puts them relatively close to their initial guide and well on the way of being cash flow sufficient by means of the Model 3". 4,060 Model S and X vehicles were on their way to customers at the end of Q1, which was 68% higher than at the end of Q4 2017. At a cost of US$35,000 apiece, the company's debut electric sedan for the mass market promises a 215-mile (346-km) range, a sub-six-second 0-60 miles per hour (96.5 km/h) sprint and Tesla's evolving suite of autonomous driving technologies.

Elon is also increasingly under strain as he gets the Model Y into production, builds the Tesla Semi and the second-generation Roadster, completing the Supercharger network, boring tunnels underground, making solar roof tiles, and launching rockets.

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