Tesla has been under pressure to ramp up production of the Model 3, which at $35,000 could appeal to a broad market and is around half the cost of its other cars. But in its letter to shareholders, Tesla chief Elon Musk said boosting production of the Model 3 remains "challenging" given that the company is striving for a highly automated assembly process. - 'Exponential' growth -The company said it expects to reach a production rate of 5,000 Model 3 vehicles per week by the end of the first quarter of 2018. Later, during the conference call, Musk appeared to back off a target to raise Model 3 production to 10,000 at some point in 2018. Musk said the company does not expect significant capital spending in China until 2019 and that production is about "three years out."

Source: The Nation Bangkok November 02, 2017 00:00 UTC