Tesla Ramps Up Model 3 Production and Predicts Profitability

After a tumultuous year in stormy seas, Tesla is making progress toward a safe harbor. In a report to investors today, the automaker revealed that it built more than 2,000 Model 3 sedans for three consecutive weeks in April, an encouraging number for a company that has lagged badly on its production targets for this all-important vehicle. Trouble is an old friend to Elon Musk's young automaker, which over a 15-year existence has confronted one near-disaster (flirtations with bankruptcy, high-profile crashes, lawsuits, federal investigations, grievous delays) after another. The fans cheer, the stock goes up, the short-sellers are foiled again. This report foreshadows another victory lap: "If we execute according to our plans, we will at least achieve positive net income excluding non-cash stock based compensation in Q3 and Q4," it states.