Tesla ramps up production in order to hit its goals image

The electric car maker has started to hit the acceleration by increasing its production rate for the ultimate goal of producing 500,000 cars per year.

Tesla has confirmed it hit a production pace of 2,000 vehicles each week, which means that it currently has an annual rate of 104,000 units. The news has been brought to light at its latest ‘Tesla Weekend Social’ gathering, events that are meant to debate various subjects about the company’s plans and products with its owners. Slowly boosting the output is a crucial step for Tesla in achieving its short-term targets of selling 80,000 to 90,000 electric vehicles in 2016, while it aims to build 500,000 cars by 2018, almost ten times more than it built last year, two years ahead of the previous schedule.

Tesla spent around 1.6 billion dollars to bring the Fremont plant to the next level, by adding new equipment and employing more workers, while planning further expansions in order to meet the demand for the upcoming Model 3, which now has over 373,000 reservations. It also wants to invest about 1.5 billion dollars this year in equipment to support battery production at its Nevada Gigafactory, to open about 80 retail locations and service centers and to energize around 300 new Supercharger stations. Tesla set a deadline for Model 3 internal parts and supplier parts for July 1st, 2017, for the first deliveries to start later that year.

Via Electrek