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Time to Bash Tesla Model 3

Accepted submission by takyon at 2017-07-31 22:43:02

Tesla is beginning to deliver a small number of Model 3 [] cars, but there are concerns that Tesla will not be able to produce enough cars to meet demand []:

Wall Street finally got to see all the details of the Tesla Model 3 during the car's launch event Friday. So far investors have given it the thumbs down with the electric car maker's shares down more than 2 percent midday Monday.

"We believe the Model 3 was as good as or better than expected, and pricing was as expected with considerable initial upsell. That said, the rubber now hits the road, and the fundamental questions remain unanswered," Bernstein's Toni Sacconaghi wrote in a note to clients Monday. "CEO Elon Musk sounds increasingly squeamish about the production ramp." The analyst cited how the $35,000 Model 3 car will not be available until early 2018 with only a higher-priced $49,000 model available this year. He also noted Musk's comment to employees to prepare for "production hell."

Speaking of "production hell", Tesla employees in California are threatening to unionize []:

Employees at the electric automaker's factory in Fremont, California, have been agitating for a union since Jose Moran, a production associate, wrote a Medium post [] in January detailing difficult work conditions at the flagship plant. The bulk of the demands has since centered on improving equipment to reduce workplace injuries [].

[...] Musk originally called injury allegations at the Fremont plant "disingenuous or outright false []" but has since told employees to report injuries directly to him [].

Although the base price of the car is $35,000, that can rise to $55,000 [] or more [] after options.

Also at MarketWatch [], Ars Technica [], and CNET [].

Original Submission