Tesla CEO Elon Musk Might Come to India in 2019

The Thursday feature from Bloomberg focused primarily on Tesla's push to meet production demand for the Model 3, which starts at $35,000.

Months after the company imposed the goal of producing 5,000 Model 3 vehicles per month, Tesla's CEO and founder Elon Musk congratulated factory workers for finally meeting the company's own target at the end of June.

Tesla is the first vehicle manufacturer to hit the threshold in the United States, and the end of subsidies could slow sales as the company ramps up production of. After the full year, the company's customers are no longer eligible for that tax credit. Construction will begin soon after approvals and permits are secured, and the first vehicles will roll off the line within roughly two years, a Tesla spokesman said. "They will have to get capital".

Tesla is the first automaker to reach this milestone, while General Motors has said that it expects to follow sometime later this year.

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Musk has lashed out at reporters and news outlets over troubling news about Tesla's Model 3 production and internal struggles.

Besides the import tariffs and the shipping costs Tesla effectively sidesteps by breaking ground in China, the EV maker also stands to save money in terms of sourcing, as many raw materials needed to build a Tesla, such as rare earth metals, are mined and processed for manufacture in China.

"I think that you'll see something similar to what they did in Nevada, with a partner like Panasonic", said Mr Kallo, referring to the gigafactory that Tesla and its Japanese battery-cell supplier operate along near Reno. While some industry experts are skeptical that Tesla can keep Model 3 production at current levels, Musk maintains that the worst of Model 3 production is in the rear view. China retaliated by imposing an nearly identical tariff, meaning Chinese consumers who want to own a Tesla will have to spend an additional $30,000. But Musk has said the company will become profitable in the second half of this year. But if the company fails to fix its issues, the public may finally begin to pressure Tesla through boycott, and competition will easily take over the electric vehicle market, especially now that Volkswagen, BMW, Daimler, and others have plans to drop new electric cars soon.

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