Tags: tesla | model 3 | battery | issues

Tesla Model 3 Battery Issues? Company Says It's On Track

Tesla Model 3 Battery Issues? Company Says It's On Track

The first Tesla Model 3 cars are delivered on the company grounds in Fremont, California, July 28, 2017. (Andrej Sokolow/picture-alliance/dpa/AP Images)

By    |   Thursday, 25 January 2018 06:24 PM

Tesla Model 3 battery issues are worse than previously thought and may lead to further production delays for the carmaker, according to a report, but Tesla refuted the claim Thursday and said it is "on track."

The Gigafactory plant in Sparks, Nevada, was supposed to be producing thousands of batteries a week for Model 3s, but as of mid-December it was still building parts of the batteries by hand, CNBC reported.

But Tesla said while "some elements of the production process will be more manual," the company will come through as promised, Reuters reported.

"To be absolutely clear, we are on track with the previous projections for achieving increased Model 3 production rates that we provided earlier this month," a Tesla spokesman told Reuters.

Tesla is behind schedule in making Model 3s available, with fewer than 2,000 delivered by the end of 2017 and none of the basic, $35,000 versions. Tesla is making efforts to ramp up production, but the carmaker’s goals were ambitious in the eyes of most experts.

More than 400,000 people have paid $1,000 refundable fees to reserve a Model 3, but some investors are beginning to doubt the company can make base model cars for the $35,000 consumers have been led to believe they will cost.

Stanphyl Capital’s Mark B. Spiegel told CNBC he thinks the base model will cost at least $45,000 to build and that sales will fall at that price, hurting Tesla’s profitability.

Tesla has already scaled back expectations that it could build 5,000 cars a week after earlier abandoning a goal of 10,000 per week. It now says it will get to 2,500 cars a week by March.

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Tesla on Thursday refuted a report that Model 3 battery issues are worse than previously thought and may lead to further production delays.
tesla, model 3, battery, issues
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2018-24-25
Thursday, 25 January 2018 06:24 PM
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