>> It will be next year.>> Elon Musk catapulted to fame for taking big risks with his electric semi-autonomous cars that are the envy of the industry. His gamble paying off, Tesla only 14 years old, already has a bigger market value than century old Ford. Now Musk is attempting to shake things up again, this time when it comes to shortening production times, says Reuters auto tech correspondent Alexandria Sage.
>> Tesla is basically fast tracking its production line. Traditionally, what car companies do is they make their production line tools in two steps. You start with what are called soft tools, these are cheaper, easier to manufacturer tools. Then you build a small amount of cars using those tools.
When all the kinks have been worked out, then you invest in production tooling this harden steel tools. What Tesla has chosen to is go directly to the production tooling phase.>> And by doing so, Tesla is looking to save time and money, but there are risks. Tesla could be hit with further cost and delays down the road if production troubles emerge, that would have been picked up, if it followed traditional manufacturing steps.
That's a gamble Tesla can hardly afford to lose.>> Tesla has a lot riding on the Model 3. This is gonna be their first mass market car, priced at about $35,000 to start. And so, after it debuts if they still have to fix problems that weren't caught during production, that could maybe set them back in their goal of delivering these vehicles to the thousands of people who have already ordered them.
>> Musk is running against the clock, shares of Tesla have surged 43% since the start of the year. Investors hoping the success of the Model 3 will finally do something Silicon Valley's wonder boy has yet to do, turn Tesla into a money maker.