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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 misses on Model 3 car production target: Report. Pixabay
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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.

Also Read- Vietnam Raises Its Concern Over Cyber Security

“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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SpaceX Names Yusaku Maezawa As Their First Private Passenger

SpaceX in February transfixed a global audience with the successful test launch of its Falcon Heavy, the most powerful operational rocket in the world.

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Elon Musk
Yusaku Maezawa, the chief executive of Zozo, which operates Japan's popular fashion shopping site Zozotown and is officially called Start Today Co, speaks at an event launching the debut of its formal apparel items, in Tokyo, Japan. VOA

SpaceX, Elon Musk’s space transportation company, on Monday named its first private passenger as Japanese businessman Yusaku Maezawa, the founder and chief executive of online fashion retailer Zozo.

A former drummer in a punk band, billionaire Maezawa will take a trip around the moon planned for 2023 aboard its forthcoming Big Falcon Rocket spaceship, taking the race to commercialize space travel to new heights.

The first person to travel to the moon since the United States’ Apollo missions ended in 1972, Maezawa’s identity was revealed at an event on Monday evening at the company’s headquarters and rocket factory in the Los Angeles suburb of Hawthorne.

 

Elon Musk, spacex
Elon Musk. IANS

 

Maezawa, who is most famous outside Japan for his record-breaking $110 million purchase of an untitled 1982 Jean-Michel Basquiat painting, said he would invite six to eight artists to join him on the lunar orbit mission.

The billionaire chief executive of electric car maker Tesla, Musk revealed more details of the Big Falcon Rocket, or BFR, the super heavy-lift launch vehicle that he promises will shuttle passengers to the moon and eventually fly humans and cargo to Mars. The BFR could be conducting its first orbital flights in about two to three years, he said.

Musk had previously said he wanted the rocket to be ready for an unpiloted trip to Mars in 2022, with a crewed flight in 2024, though his ambitious production targets have been known to slip.

“Its not 100 percent certain we can bring this to flight,” Musk said of the lunar mission.

SpaceX
SpaceX’s BFR launch vehicle is seen in this handout image provided. VOA

The amount Maezawa is paying for the trip was not disclosed, however, Musk said the businessman outlaid a significant deposit and will have a material impact on the cost of developing the BFR.

The 42-year-old Maezawa is one of Japan’s most colorful executives and is a regular fixture in the country’s gossipy weeklies with his collection of foreign and Japanese art, fast cars and celebrity girlfriend.

Maezawa made his fortune by founding the wildly popular shopping site Zozotown. His company Zozo, officially called Start Today Co Ltd, also offers a made-to-measure service using a polka dot bodysuit, the Zozosuit.

With SpaceX, Amazon.com founder Jeff Bezos’ Blue Origin and entrepreneur Richard Branson’s Virgin Galactic battling it out to launch private-sector spacecraft, Maezawa will join a growing list of celebrities and the ultra-rich who have secured seats on flights offered on the under-development vessels.

SpaceX
A SpaceX Falcon Heavy rocket lifts off from historic launch pad 39-A at the Kennedy Space Center in Cape Canaveral, Florida. VOA

 

Those who have signed up to fly on Virgin Galactic sub-orbital missions include actor Leonardo DiCaprio and pop star Justin Bieber. A 90-minute flight costs $250,000.

Short sightseeing trips to space aboard Blue Origin’s New Shepard rocket are likely to cost around $200,000 to $300,000, at least to start, Reuters reported in July.

SpaceX has already upended the space industry with its relatively low-cost reusable Falcon 9 rockets. The company has completed more than 50 successful Falcon launches and snagged billions of dollars’ worth of contracts, including deals with NASA and the U.S. Department of Defense.

Also Read: Why Elon Musk has Suddenly Gone Ballistic On Twitter

SpaceX in February transfixed a global audience with the successful test launch of its Falcon Heavy, the most powerful operational rocket in the world. (VOA)