Successfully mass producing the Model 3 is a pivotal point that will decide the future financial health for Tesla. The Model 3 is supposed to be the first affordable all-electric vehicle for the masses. Starting at around $35,000, the standard model will have a range of 220 miles and the long-range model should get a little over 300 miles per charge. The company needs to start churning out 5,000 Model 3’s a week in order to stop losing money on every Model 3 they make – earlier this month they were making about 3,500 a week. According to Elon Musk, their manufacturing plant in Fremont is “bursting at the seams”. They were forced to build another section of the production line under a tent to reach the 5,000 cars a week goal.
A lot of naysayers are betting against the company considering they’ve lost a total of $4.6 billion dollars since going public in 2010, and their history of failed promises. However, Elon has lofty goals and has managed to overcome most of the obstacles he encountered with SpaceX. The success of this company is inevitable since we are seeing tangible results and the mission of Tesla is really to improve the human condition. Tesla’s Model X is the safest SUV on the planet, it’s earned a perfect safety rating by the Nation Highway Transportation Safety Administration. The Model S received a 5-star safety rating in every subcategory without exception. To put this in perspective, approximately 1% of all cars test by the federal government achieve 5 stars across the board. The goal, however, is to have the vehicles drive themselves and avoid getting into accidents in the first place. These cars will save a countless number of lives moving forward, and hopefully, help reduce the damage done to our environment.