Tesla has only produced 260 Model 3s so far

The slow start for Model 3 which was designed for easier assembly reignites concern that Tesla will struggle to reach the lofty production targets set by its CEO

The slow start for Model 3 which was designed for easier assembly reignites concern that Tesla will struggle to reach the lofty production targets set by its CEO

October 3, 2017 (Investorideas.com Newswire) In Q3, Tesla delivered 26,150 vehicles, of which 14,065 were Model S, 11,865 were Model X, and 220 were Model 3.

Q3 production totaled 25,336 vehicles, with 260 of them being Model 3.

Tesla has sky-high expectations for the release of the all-electric Model 3 sedan, including benchmarks set by the company's CEO, Elon Musk.

Tesla has missed deliver marks on its other stable of electric vehicles.

In 2018, it hopes to increase production of the auto to over 10,000 a week and have an annual target of half a million Model 3s being produced. The stock still performed better as investors are confident about stronger sales number for Model 3.

But Tesla said on Monday that a handful of systems at its Fremont, California, vehicle plant and its battery factory in Reno, Nevada, "have taken longer to activate than expected". "It is important to emphasize that there are no fundamental issues with the Model 3 production or supply chain".

Though it is not the first time Tesla failed to reach its production goals, it does come as a surprise.

That said, investors won't wait forever for Tesla to hit its stride.

Elphinston stampede: Minister sets deadline for officials
As per the reports, dozens of people took shelter on the bridge from the sudden thunderstorm that led to the deadly stampede. General Managers of Western and Central Railway AK Gupta and DK Sharma, respectively, also attended the meeting.

Musk and his employees know they have a hard task ahead of him. Still, he said he expected 500,000 Model 3s to be delivered every year after 2018, and he projected just 50,000 deliveries in 2018 as production ramped up.

"But you guys know this; you're veterans".

The Model 3 is being made at the Fremont factory and its batteries at Tesla's Gigafactory just outside of Reno, Nevada.

Tesla blames bottlenecks on a mere "handful" of subsystems at its manufacturing plants for the weak figures.

The moves also followed a series of announcements by rival General Motors on its own electric auto ambitions, which included a promise to take "bold steps" toward the first completely driverless vehicles. However, Tesla's Model X launch flub didn't really make sense. At the lower end, it is half the starting price of the Model S. The truck doesn't appear to bear a Tesla logo, but the headlights and the profile look on point.

The Tesla Model 3 is arguably one of the most impressive electric cars in existence. Tesla has disrupted the global auto industry with its stylish electric cars, but it now faces growing competition from the likes of Daimler AG, Volkswagen AG and General Motors Co.

Tesla began 2016 with 6,000 production workers and finished the year with about 10,000 workers.

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