Tesla Inc (NASDAQ:TSLA) was once no stranger to production issues, but the electric-vehicle company seems to have found its way back on track lately.
The automaker is expected to have produced 11,500 cars so far in its fourth quarter, according to a report by Electrek. That number includes a total of about 7,400 Model 3s.
Tesla produced a total of 80,000 vehicles in its third quarter, including over 53,000 Model 3s.
The report stated that the automaker appears to have maintained its Model 3 production goal of 5,000 units per week.
Tesla has not yet issued production and delivery guidance for the fourth quarter, but the company stated previously that it intends to boost its Model 3 production.
Musk to the rescue?
In other Tesla news, CEO Elon Musk tweeted about his company’s place in the world.
Tesla exists to help reduce risk of catastrophic climate change, which affects all species on Earth. Even if your faith in humanity is faltering, this is worth caring about. Support makes a difference. Thank you.
— Elon Musk (@elonmusk) October 12, 2018
Scientists have pointed to climate change, which is exacerbated by car emissions, as a driving force behind natural disasters. The Florida Panhandle and other areas of the southeastern US were hit hard by Hurricane Michael about a month after Hurricane Florence ripped through the Carolinas.
Skeptics weighed in on Twitter, responding that Tesla exists to make money.
tesla exists to make you money https://t.co/H0GQTCX1TI
— Oliver Willis (@owillis) October 12, 2018
Musk responded that his reasoning behind wanting money is to solve Earth’s problems and build a self-sustaining city on Mars in case humans destroy the planet.
About half my money is intended to help problems on Earth & half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves
— Elon Musk (@elonmusk) October 12, 2018
Shares of Tesla were up more than 2% to US$258.17 in Friday afternoon trading.
--Updated to include additional tweets, most recent share price
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee