Tesla's Model 3 units are set to hit production in July as confirmed by Elon Musk. Part of the big plan by Tesla to meet production goal is to build three more massive factories, and one of which might be a facility in the UK. The Model 3 sedan will have its official unveiling before July for interested buyers to see what's in store.
The production goal for Tesla in their Model 3 cars is 500,000 units before 2018. On July, consumers can expect to see the interior and the full details after limited production commenced. The full-scale production will start in September with up to 5,000 units going out of Tesla's facilities each week up until the end of the year. In 2018, the pictured figure is expected to double to 10,000 units per week delivering a total of 500,000 units in 2018.
According to Musk, the rapid increase of units delivered per week is to raise more capital for the company to keep the momentum going. "According to our financial plan, no capital needs to be raised for the Model 3, but we get very close to the edge. We're considering a number of options but I think it probably makes sense to raise capital to reduce risk," says Musk via a conference call.
The ultimate target by Tesla for their Model 3 sedans is a total of a million production by 2020. This projectile is in conjunction to their Giganfactories reaching its full production capacity. Tesla also detailed an exciting plan to expand their general production capabilities through building an extra three Gigafactories. According to Car Buzz, "Tesla already considers its solar plant in New York to be a Gigafactory, meaning these following facilities would be Gigafactories 3, 4, and 5. Tesla expects to finalize locations on which to break ground for the new factories soon."
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