Tesla burned through $700 million in cash last quarter, but its production woes appear to be easing. Related: Tesla will start working 24/7 to crank out Model 3sThe company expects to be making 5,000 Model 3's per week by the end of June. The Model 3's price point — thousands of dollars cheaper than Tesla's other two vehicle models — revolves around it being relatively simple to mass produce. One example: Musk said Tesla had a very complex robot designed to put fiberglass mats on top of the Model 3's battery packs. Correction: An earlier version of this article misstated the amount of Tesla's cash burn last quarter.

Source: CNN May 02, 2018 20:43 UTC