Tesla is on course for a bumper quarter. A Monday report claims that the company produced a staggering 80,000 vehicles in the three months just gone, an unheard-of rate of production. The news comes just days after CEO Elon Musk told employees the company is on course to finally reach profitability.
The Electrek article claims that the company produced around 80,000 cars, around 53,000 of which were Model 3 vehicles, achieving its Model 3 production goals for the quarter with a 187 percent increase over the previous quarter. The company produced more than 2,000 in the last two and a half days alone, in a sprint that saw it far outpace its total output in previous quarters. Overall the company made more cars than the last two quarters combined. The company is also set for a big deliveries quarter, despite Musk’s previous assertion that the company is in “delivery logistics hell.”
The news comes as Musk emailed employees on September 30 to alert them of a major upcoming milestone. Musk wrote that “we are very close to achieving profitability and proving the naysayers wrong, but, to be certain, we must execute really well tomorrow (Sunday),” noting that “if we go all out tomorrow, we will achieve an epic victory beyond all expectations.”
If successful, Tesla will have pulled itself through its third “bet the company” moment, with Musk describing the first two as the original Roadster launch and the Model S launch. When the Model 3 launched in July 2017, Musk described the company as entering “production hell” as Tesla worked to produce 5,000 of the cars per week by the end of that year on top of the 2,000 Model S and X cars per week. Tesla reached this rate by June, and this latest report suggests the company has moved even further.
Tesla is expected to post its next earnings report at the start of November. While Musk announced plans at the start of August to take the company private, he abandoned this plan less than a month later.
It could be a big moment to reveal something new — last quarter’s call saw the announcement of an autonomous driving chip.