Tesla has pressed back production targets for its Model 3 electric cars up to three several weeks, because it ongoing to become hampered by manufacturing issues.
The United States vehicle maker stated it had been making process in fixing the development “bottlenecks”, so it had first known earlier this year, but stated it had been “hard to predict just how lengthy it will require for those bottlenecks to become removed or when brand new ones can lookInch.
The primary production constraint Tesla had faced was at battery module set up line, where it stated it’d redesigned a few of the automated processes and was now wishing throughput could increase.
With all this, Tesla stated it had been now targetting manufacture of 5,000 Model 3 cars per week through the finish of March, rather of through the finish of the year.
It’d also formerly stated it looking to be producing 10,000 cars per week through the finish of 2018, however in its letter to shareholders on Wednesday stated, regarding timing with this, “it happens to be our intention to apply that capacity addition as we have achieved a 5,000 each week run rate”.
In the 3rd quarter ended Sep 30, Tesla delivered 222 Model 3 vehicles, over a production target of 1,500. However, it did deliver 18pc more Model X and S cars when compared to second quarter.
It stated both Model S and X cars were on the right track to internet 100,000 deliveries this season, though added that it expects to produce 10pc less of these two cars to concentrate production around the Model 3 within the 4th quarter of the year.
Shares in Tesla fell 4.7pc in after hrs buying and selling, among investor concern over exactly what the longer ramp-up period for production method for the business’s cash burn.
Capital expenditure rose within the third quarter, to $1.1bn (£830m) from $959m within the three several weeks to June, meaning it’s now spent around $2.6bn this season alone. Tesla stated this high spend came from the development capacity increases.
However, this meant it published a internet loss of $619.4m for that period, from the profit of $21.9m last year, despite revenue rising 30pc to $2.98bn.