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COMING UP:Share Opener Variant 3

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Transcript

00:00:02
>> Tesla has its workers doing 12 hour shifts as the Silicon Valley auto maker ramps up production to meet CEO Elon Musk's goal of rolling out 5,000 Model 3 vehicles a week by the end of June. That's this week, which seems unlikely, according to sources at the company, who say it's been unable to reach production targets.
00:00:26
One worker telling Reuters that during a shift Monday, the company produced 305 Model 3 vehicles. And it's doing two shifts per day, every day this week. At that rate, approximately 4,200 cars would be produced. That's short of the production volume Musk has promised Tesla shareholders before. And it's already been delayed a number of times.
00:00:52
Reuters correspondent Salvador Rodriguez has been speaking to Tesla workers and sources.>> This all also comes after layoffs at the company earlier this month. So Tesla's balancing ramping up production for a Model 3 vehicle while trying to maintain cost at a suitable level for the Model S and the Model X.
00:01:14
It's quite the tango for them to dance.>> The production surge comes shortly after Musk tweeted a photo of a new Model 3 production line built inside a tent on the company's Fremont, California campus. The large structure is visible from the outside. Musk saying, quote, needed another general assembly line to reach 5k/week Model 3 production.
00:01:38
A new building was impossible, so we built a giant tent in two weeks. Additionally, a parking lot holding hundreds of Tesla vehicles, including many Model 3s, was spotted in Point Richmond, California, about 40 miles north of the company's auto factory. Mass production of the Model 3 is key to Tesla's future profitability.
00:02:00
And shareholders, fans, and critics will be watching to see if the promised volume rolls off the production lines this week.