Tesla aims to hit 3,500 Model 3 vehicles per-week production target or producing 500 Model 3 vehicles a day, CEO Elon Musk said at the company’s annual shareholder meeting on Tuesday.
In early April, the car maker made an announcement of missing its goal of building 2,500 Model 3 vehicles per week by the end of the first financial quarter of 2018. In its second quarter, the company began making just 2,000 Model 3s a week.
Tesla has struggled with some issues in the development of the Model 3’s batteries at the company’s Gigafactoryand faced concerns about its finances. Tesla had stopped its manufacturing lines for the new car at least two times to fix and overcome the issues.
Now, Tesla aims to hit 3,500 Model 3 vehicles and has settled its production lines, expecting it to be available by the first quarter of 2019. Musk said that Tesla is producing more expensive versions of the Model 3, which may start at $35,000.
He said Model 3 test drives could be available in nearly all stores in North America by the end of July. He noted also that the compact, nearly 50 kWH battery pack will soon be ready by the end of this year. The carmaker reported building a compact car in the next 5 years
“This is the most excruciating, hellish several months that I’ve ever had,” Musk said at the shareholder meeting. “And a lot of other people at Tesla. But I think we’re getting there,” he continued.