Automaker company Tesla has fallen short once again on its promises regarding its new sedan, the Tesla Model 3. In the past few months, Tesla had already encountered problems in the production aspect, and has announced once again that production will be pushed back further. The technical difficulties that the Elon Musk-owned automaker company has been experiencing have caused its investors to lose faith in the brand.
Last year, Musk announced that the automaker company would be producing a volume of 5,000 Model 3 vehicles per week by December. However, back in November, Musk pushed the deadline to March of 2018, since the company was not able to solve its manufacturing woes. In the fourth quarter of 2017, the company was only able to make 1,550 Model 3 units, and stated that it would be able to manufacture an estimated 2,500 cars a week by March.
The projected figures still fall short compared to what the company once promised, and is now facing dire straits financially. The "production hell," which was used by Musk, is largely due to the factories' inability to successfully establish and integrate the solar panel roofs feature onto the Tesla 3. So far, the roofs have not worked well enough to get past the development stage, and is causing the company billions of dollars.
However, Tesla has decided to take a slower approach in manufacturing its vehicles to ensure that each and every car that it produces is of the highest standard of quality. Car enthusiasts who have been able to review the Model 3 have raved about the responsive interface, as well as its form and function. The Model 3 is certainly promising as a mass-driven electric vehicle, which can sky-rocket the success of the company once the bugs have been fixed.
As of now, the market value of Tesla is still considerably high, which is worth about $53 billion.
