Tesla Reports Uptick in Model 3 Output

Tesla said on Tuesday that it had produced almost 10,000 Model 3 electric cars in the first three months of 2018, a significant increase from the fourth quarter of last year but still short of the goal that investors hoped the company would reach.

The company said it had expanded output of the Model 3, its first mass-market offering, by “rapidly addressing production and supply chain bottlenecks, including several short factory shutdowns to upgrade equipment.”

The Model 3 is critical to Tesla’s efforts to shore up its finances and generate revenue to repay investors and to develop other vehicles, including an electric truck.

In the past seven days, Tesla said, it produced 2,000 Model 3 vehicles, a rate it expects to sustain in the coming week.

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