Elon Musk Reassures Investors as Tesla Ramps Up Model 3 Output<br />Despite the wider loss in the quarter, Mr. Musk said the company was on track in many areas — including batteries, solar panels,<br />and maintaining sales of its existing vehicles, the Model S sedan and Model X sport utility vehicle — even as it rolls out the Model 3.<br />Tesla may experience some fluctuations in production rates, Mr. Musk said,<br />but “people should have zero concerns” about the company’s ability to increase production of the new offering, the Model 3.<br />The electric-car maker Tesla faces challenges in introducing its first mass-market vehicle,<br />but the company’s chief executive, Elon Musk, sought to reassure investors on Wednesday that the company was up to the task.<br />Tesla said total revenue for the quarter was $2.79 billion, more than double the $1.27 billion it recorded in the comparable period last year.<br />Although Tesla posted stronger sales of the Model S<br />and the Model X, the biggest challenge it faces is preparing for the introduction of the Model 3, the company’s first foray into the mass market, with prices starting at $35,000.
