Tesla Model 3, Elon Musk’s Grail, Remains a Costly Pursuit
Mr. Musk said Tesla had developed a new automated production line
that would be installed in the Gigafactory in March, easing hitches in supplying batteries to its assembly plant in Fremont, Calif., which was once operated jointly by Toyota Motor and General Motors.
Mr. Musk said he was “cautiously optimistic” that it would begin to generate net income in 2018, as Model 3 production and deliveries rose
The electric-car maker said Wednesday that it lost more than three-quarters of a billion dollars in the fourth quarter as it scrambled to root out glitches from its manufacturing operations
and ramp up production of its highly anticipated Model 3 sedan.
In a conference call with analysts, Mr. Musk, the chief executive, acknowledged
that Tesla still faced challenges in putting the Model 3 into mass production.
When investors don’t put any more money into the company, then you will know it’s a problem.”
On a positive note, Tesla reported it used up only $277 million in cash in the fourth quarter.
