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4/18, 2:02 AM (Source: TeleTrader.com)
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Tesla to make 6,000 Model 3 cars per week by June - email

Tesla Inc. plans to produce 6,000 of its Model 3 vehicle "no later than June 30" according to a leaked email sent by its CEO Elon Musk to the company's employees. The automaker will perform two sets of upgrades, one this week and another in late May, aimed at boosting production capabilities, according to the email. Tesla's Freemont factory will "move to 24/7 operations" in order to meet the goal.

The email also addresses the issue of company expenses. "Going forward, we will be far more rigorous about expenditures. I have asked the Tesla finance team to comb through every expense worldwide, no matter how small, and cut everything that doesn't have a strong value justification. All capital or other expenditures above a million dollars, or where a set of related expenses may accumulate to a million dollars over the next 12 months, should be considered on hold until explicitly approved by me," Musk wrote.

Tesla's shares rose 2.36% in after-market trading following the publication of the email.

Breaking the News / DJ