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Electric car maker Tesla pushed back targets for its new Model 3 car, admitting its’s months behind schedule. it would now produce 5,000 of the cars each week by early 2018, instead of December.

Electric carmaker Tesla pushed back targets for its new Model 3car, admitting its’s months behind schedule.



According to Tesla; it would now produce 5,000 of the cars each week by early 2018, instead of December.   
 
The new target emerged as Tesla posted its biggest quarterly loss ever, sending its shares down more than5% in after-hours trading.
 
The carmaker is hoping to attract mass market interest in the vehicle with is priced at $35,000, about half the cost of its Model S Car.
According to Tesla,” it continued to the make significant progress each week in fixing Model 3 bottlenecks”.  Also mentioned of the nature of manufacturing challenges is to predict exactly how long it will take for all bottlenecks to be cleared or when new ones will appear.



Tesla’s chief executive Elon Musk said, “ I was really depressed about three or four weeks ago.” Adding that he is now optimistic because it is clear what changes need to be made. 
The company said it expected capital expenditures of $1 billion in the fourth quarter, bringing its total investment to 2 billion for the second half of the year.



Which, it could face heavy new demands for cash given the delays with the Model 3 and plans for new vehicles.
 
Those of you that hoping to receive the delivery of your new car sometimes in December but now it is almost unclear when delivery going to be.
 
 




"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer










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