San Francisco/Washington — Even real car companies need a breather now and then. After working around the clock for weeks on end to surpass a production goal, Tesla is pausing some Model 3 production this week, according to people familiar with the matter. The break will let the company do basic upkeep and maintenance, and workers will get to enjoy hot dogs and fireworks with their families on July 4. Most employees will be back to work July 5, and the short hiatus won’t affect Tesla’s production targets. Tesla reported on Monday that Model 3 output reached 5,031 in the final seven days of June, beating a 5,000-car target that CEO Elon Musk had said was crucial to generating cash and earning profit. Tesla fell for a third day in a row, dropping 4.9% to $318.78 at 10.56am in New York. The stock slid 2.3% on Monday as investors questioned whether the company could sustain its level of output. By passing the mass-manufacturing milestone, Musk said Tesla has proved it’s a real car compa...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.