Climate Changed
Tesla's Model 3 Challenges Leave Little ‘Wiggle Room’ on Cash
- Carmaker now sees making 5,000 units a week by end of June
- Delay raises prospect that another capital raise may be coming
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Tesla Inc. pushed back a key production target for its pivotal Model 3 sedan again, raising questions about whether the electric-car maker may need to raise more cash.
The Elon Musk-led company now expects to assemble 5,000 Model 3s a week by the end of June, delaying plans to reach that milestone by another three months. Tesla didn’t come close to achieving an initial goal to manufacture that many of the sedans a week by the end of 2017.