Growing Pains

Tesla stock dropped more than 5% after hours as Musk explained what had gone wrong in the making of the new Model 3, the company’s first affordably priced electric car. Investors had sensed something was awry a month earlier, when Tesla said it had only made 260 of the Model 3 last quarter, well below the nearly 2,000 it had forecasted; some reports said the bottleneck was due to the carmaker assembling the vehicle by hand.

Elon Musk Says This Is Tesla’s ‘Biggest Problem’

 

“Nine levels of production hell” are not unusual when you launch a new product. Especially if it is a product of such a scale never produced by the company before.

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