That would move Model 3 production up to round-the-clock levels.
(NASDAQ:TSLA) has suspended its Model 3 assembly line in what the company was a planned production halt, the EV continues facing major production problems ramping up its most important vehicle.
The electric vehicle company projected in January that it would produce 2,500 Model 3s per week by the end of 2018. In the past month, a Tesla SUV on auto-pilot crashed and killed the driver; thousands of the company's Model S cars had to be recalled; and CEO Elon Musk admitted excessive automation was a mistake.
"These periods are used to improve automation and systematically address bottlenecks in order to increase production rates", a Tesla representative said explaining away the hellish production issues Monday.More news: Aguero set to miss rest of season after 'minor' knee operation
The news comes a day after Tesla temporarily suspended Model 3 output in what the company said was a planned pause in production to tweak and reconfigure the assembly line.
Now, Tesla plans to take a different approach to Model 3 production in adding another shift and boosting the number of employees devoted to Model 3 assembly.
According to Musk, Tesla needs to make 6,000 Model 3 per week by the end of June - an increase of the company's previous target of 5,000 per week.
In order to accomplish the new production goal, Tesla is stopping work at the Gigafactory today.More news: Canelo Alvarez hit with 6-month suspension, report says
Musk has big goals for Model 3 production.
"Another set of upgrades starting in late May should be enough to unlock production capacity of 6,000 Model 3 vehicles per week by the end of June", Musk wrote, according to Electrek.
Investors are closely watching to see if Tesla is able to meet long-delayed targets and quickly ramp up the Model 3, on which the company's future profitability rests. The Wall Street consensus is at $320.
Weeks following a crash that claimed the life of Model X owner Walter Huang, Tesla's response to the event continues to create controversy for the automaker and its Autopilot system.Huang, 38, .More news: Arizona politicians react to former first lady Barbara Bush's passing
"OEMs [original equipment manufacturers] may lose part of a shift or a shift, but shutting down for several days is unheard of", Vadhavkar said in an email.
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