Elon Musk Reassures Investors as Tesla Ramps Up Model 3 Output
Despite the wider loss in the quarter, Mr. Musk said the company was on track in many areas — including batteries, solar panels,
and maintaining sales of its existing vehicles, the Model S sedan and Model X sport utility vehicle — even as it rolls out the Model 3.
Tesla may experience some fluctuations in production rates, Mr. Musk said,
but “people should have zero concerns” about the company’s ability to increase production of the new offering, the Model 3.
The electric-car maker Tesla faces challenges in introducing its first mass-market vehicle,
but the company’s chief executive, Elon Musk, sought to reassure investors on Wednesday that the company was up to the task.
Tesla said total revenue for the quarter was $2.79 billion, more than double the $1.27 billion it recorded in the comparable period last year.
Although Tesla posted stronger sales of the Model S
and the Model X, the biggest challenge it faces is preparing for the introduction of the Model 3, the company’s first foray into the mass market, with prices starting at $35,000.
