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Tesla sets new delivery and production records while stock surges

USATODAY - Tech Top Stories

A link has been posted to your Facebook feed. Tesla shares surged Tuesday after the electric auto maker said it shattered its previous production and delivery records during the second quarter, soundly beating analysts estimates. The company's stock jumped by about 7% in after-market trading. Tesla also hinted at a strong third quarter, saying it's entering the period with a backlog of orders. CEO Elon Musk set investors' expectations high in a June 25 companywide email, saying the electric-car maker was on course to deliver a record number of cars throughout the quarter.

Tesla recalls more than 475,000 US cars on technical issues

Al Jazeera

Tesla Inc. recalled some 475,000 cars in the U.S. -- nearly equivalent to its global deliveries last year -- because of technical defects that may increase the risk of accidents. The company plans to recall all Model 3 vehicles made between 2017 and 2020 -- that's as many as 356,309 cars. The cable harness for the rear-view camera may be damaged by opening and closing the trunk and prevent the image from displaying, it told the National Highway Traffic Safety Administration. Tesla is also recalling as many as 119,009 Model S cars assembled from 2014 because of a faulty front-trunk latch that could cause the hood to open unexpectedly, according to a separate NHTSA statement also posted on its website Thursday. The company said it will fix both issues free of charge.

How much does it cost to make a Tesla? Earnings show reduced costs and high profits

USATODAY - Tech Top Stories

Tesla's earning report last week showed record growth in profitability and vehicle production and output, despite the volatility of 2021. A key part of making that happen? The electric vehicle company managed to increase production of cars to 305,840 in the Q4 2021, showing 83% growth compared to the same period last year, according to its earnings reports. On top of that, Tesla managed to nearly double profits from its automotive business, from approximately $7 billion to nearly $14 billion in 2021. An important driver, Tesla says in its earnings report, was a decrease in vehicle production costs. In fact, the average cost of making a Tesla vehicle fell to just $36,000 in both Q3 and Q4 2021.

Tesla: Our Model 3 electric-car production line may beat Henry Ford's

USATODAY - Tech Top Stories

Elon Musk success with the Falcon Heavy reusable rocket, with a Tesla Roadster heading toward out to space, reveals his grand plan for colonizing Mars. Facing scrutiny over its manufacturing capability, Tesla said Tuesday that production of its Model 3 electric car is increasing so rapidly the pace may soon "exceed even that of Ford and the Model T." The statement -- featuring a dose of Tesla's characteristic swagger -- comes amid mounting questions about whether the company is capable of accelerating production in order to fulfill a backlog of orders while maintaining quality standards. Seeking to counter a chorus of critics who have questioned Tesla CEO Elon Musk's leadership in recent weeks, the automaker compared itself to Henry Ford's production line, which the made automaker based in Dearborn, Mich., famous a century ago. "This is the fastest growth of any automotive company in the modern era," Tesla said. Musk himself took over production of the Model 3 in recent days as the company navigates the difficult terrain of launching an all-new model.

Tesla delivers first lower-cost Model 3 cars

FOX News

But it could take years to get it to all the people who want to buy it. Tesla delivered the Model 3 small car to its first 30 customers -- all employees -- at a company party Friday night. CEO Elon Musk said Tesla will build the cars as fast as it can, but acknowledged that supply issues and other complexities will make it tough to reach his goal of making 500,000 cars next year. Fourteen-year-old Tesla has never made more than 100,000 cars in a year. "We're going to go through at least six months of manufacturing hell," Musk told reporters Friday at Tesla's Fremont factory.