Tesla Q1 2018: Model 3 helps drive $3.41bn revenue

Tesla coaxed Model 3 production to 2,270 cars per week in April, the electric automaker confirmed today, after CEO Elon Musk took drastic steps to boost manufacturing. The company announced a Q1 2018 update today, addressing widespread concerns about just how many of the more affordable electric sedans it could ramp up to producing.

Tesla’s initial goal had been to have its factory pumping out 5,000 Model 3 cars per week at this stage. That was scaled back dramatically, however, as the challenge facing the company became more clear. Last month, Musk returned to sleeping at the factory in order to take direct control over the manufacturing facility.

It seems that focus has paid off. Tesla produced more than 2,000 Model 3 per week, for three straight weeks, the company said. In the last of those weeks, it made 2,270 of the cars. Indeed, it’s feeling confident enough to make some new predictions.

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