Tesla’s Model 3 in spotlight ahead of third-quarter earnings report
San Francisco — When Tesla reports third-quarter earnings on Wednesday after the bell, the overwhelming focus will be on the production ramp of the Model 3 — the more affordable electric car that is critical to Tesla’s mainstream success and profitability. Almost 500,000 people have placed $1,000 reservations for the car, but so far, only employees and close friends of the company have gotten them. In October, Tesla reported that it made just 260 Model 3s in the third quarter, well below the 1,500 it forecast in its August letter to shareholders. Tesla hinted at "production bottlenecks" at both its vehicle plant in California, and the "gigafactory" for battery production in Nevada, without detailing what they are or when they will be resolved. CEO Elon Musk has said that Tesla will achieve a production tempo of 5,000 Model 3s per week by the end of the year: will he reaffirm that figure or walk it back? Wall Street, and consumers, will be watching. "Tesla may not update its prior gu...
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