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Report: Tesla Misses Model 3 Car Production Target

In July 2018, Model 3 not only had the top market share position in its segment in the US, but it also outsold all other mid-sized premium sedans combined -- accounting for 52 per cent of the segment overall

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Tesla, board
Tesla to lay-off 7% full-time staff amid China dreams. Pixabay

Despite Chairman and CEO Elon Musk claiming that Tesla will ramp up production of its Model 3 car to 6,000 units per week, the electric carmaker has reportedly missed the goal and made only 4,300 units in the last week of August.

“Tesla is on track for a production record this quarter but slightly behind its ambitious Model 3 goal,” the ELetrek reported late on Sunday.

Model 3 comes with a base price tag of $35,000.

“Based on the same reliable source familiar with Tesla’s production, the automaker built about 6,400 vehicles during the last week (last seven days) of August (from 24th to 31st midday) including about 4,300 Model 3 vehicles,” the report claimed.

Earlier in August, buoyed by the increased production of Model 3 cars, Tesla reported a revenue of $4 billion in the second quarter of 2018, with $2.2 billion in cash in hand.

Elon Musk
Elon Musk (Wikimedia Commons)

“We are proud of our team for producing roughly 7,000 Model 3, Model S and Model X vehicles during the last week of June.

“A total vehicle output of 7,000 vehicles per week, or 350,000 per year, should enable Tesla to become sustainably profitable for the first time in our history, and we expect to grow our production rate further in Q3,” Elon Musk, CEO Tesla, said in a statement.

In July 2018, Model 3 not only had the top market share position in its segment in the US, but it also outsold all other mid-sized premium sedans combined — accounting for 52 per cent of the segment overall.

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“Having achieved our 5,000 per week milestone, we will now continue to increase that further, with our aim to produce 6,000 Model 3 vehicles per week by late August.

“We aim to increase production to 10,000 Model 3s per week as fast as we can. We believe that the majority of Tesla’s production lines will be ready to produce at this rate by the end of 2018,” Musk said. (IANS)

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Hackers Win Tesla Car For Exposing System Error

The EV-maker was fairly quick to fix vulnerabilities exposed by white hat hackers

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Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

Electric Vehicle (EV)-maker Tesla had to give away one of their Model 3 cars and $35,000 prize money to a group of hackers after they managed to crack its system during a hacking event.

Amat Cama and Richard Zhu of team Fluoroacetate exposed a vulnerability in the vehicle system during the Pwn2Own 2019 hacking competition, organised by Trend Micro’s “Zero Day Initiative (ZDI)”, held here this week.

The hackers targeted the infotainment system on the Tesla Model 3 and used a “JIT bug in the renderer” to take control of the system, Electrek reported on Saturday.

Charging problems with electric car
Tesla cars recharge at a Tesla station at a shopping center in Charlotte, N.C., June 24, 2017. Buyers of Tesla’s luxury models have access to a company-funded Supercharger network. VOA

“Since launching our bug bounty programme in 2014, we have continuously increased our investments into partnerships with security researchers to ensure that all Tesla owners constantly benefit from the brightest minds in the community,” the report quoted David Lau, Vice President of Vehicle Software at Tesla as saying.

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As part of Tesla’s bug bounty programme, the company had given away hundreds of thousands of dollars in rewards to hackers who exposed vulnerabilities in its systems.

The EV-maker was fairly quick to fix vulnerabilities exposed by white hat hackers, the report said. (IANS)