Initial production for the Tesla Model 3 could begin as early as July.
The American automaker revealed the details in its fourth-quarter earnings report, where it also shared that its 2016 revenue came in at $7 billion, up 73 percent from 2015. But the exciting news is that limited production on the Model 3 is on track to start in July, with Tesla planning to ramp production to exceed 5,000 vehicles per week at some point in the fourth quarter. Sometime in 2018, Tesla hopes to produce 10,000 vehicles per week. The company estimates volume production for the Model 3 to hit its stride by September.
It reiterated that “the Model 3 and solar roof launches are on track for the second half of the year.”
Tesla ended 2016 producing 83,922 vehicles, or approximately 1,614 vehicles per week. In other words, it wants to more than triple production by the fourth quarter of this year with the Model 3 being added to the assembly line.
Both Model S and Model X orders reached record highs in the fourth quarter of 2016, although exact figures were not disclosed.
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