Ambiguous statements on the Tesla Inc (NASDAQ: TSLA) earnings call may have communicated unfounded confidence in the firm’s ability to meet Model 3 targets.
CEO Elon Musk said Wednesday he expected the Gigafactory’s new automated lines, which are set to arrive from Germany in March, to alleviate constraints and increase weekly production rates to “roughly 2,000 and 2,500.”
Although “Model 3” was the implicit unit of measurement, Tesla corrected itself in an 8-K filing.
“The ‘2,000 to 2,500’ units per week cited in this comment refers solely to the capacity of the additional automated battery module manufacturing equipment that is currently located in Germany, and not to Tesla’s total Model 3 production run rate or to the capacity of the automated battery module equipment that is already present at Gigafactory 1,” Tesla wrote in a Friday 8-K filing.
The first-quarter 2,500-per-week target for Model 3s is not dependent on equipment installations,…