Elon Musk thinks Trump's Space Force plan is a visionary, 'cool' idea

Ivan Schwartz
November 3, 2018

Tesla Inc. said on Friday that it is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.

The Model 3 saloon, a more affordable auto than Tesla's previous models, is seen as crucial to the company's future and Mr Musk has described Tesla's push to make enough vehicles as "production hell".

When the Model 3 was launched in 2017, the company was optimistic about quickly ramping up production of the highly anticipated model.

The disclosure in Tesla's quarterly financial report also says the Securities and Exchange Commission subpoena covered other public statements made about Model 3 production.

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He added: "It could have been that they were so keen to rush cars off the production line that they pulled out all the stops to hit their targets to keep investors happy and make a profit and this is the outcome".

Billionaire entrepreneur and inventor Elon Musk talked his tumultuous year on Tech journalist Kara Swisher's Recode Decode podcast.

The eccentric CEO also said that he's been mulling a "supersonic vertical-takeoff-and-landing electric jet" for the past nine years, and eliminated the possibility of Tesla's building a motorcycle because of the chance for injury. Next time, Ford may not be so lucky, he said. "So, we're not gonna make motorcycles". Neither Musk nor Tesla admitted wrongdoing in the settlement. "There are a lot of good people in Saudi Arabia, and Saudis who are outside of Saudi Arabia". When prompted by a driver, the feature can move a vehicle into a parking spot.

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