Published: Wed, May 16, 2018
Money | By Ethel Goodwin

Tesla plans six-day stoppage at factory for assembly line fixes

Tesla plans six-day stoppage at factory for assembly line fixes

And despite the company's claims that it would not need to raise money, Jonas raised his estimate for Tesla's capital raising to US$3 billion from previous US$2.5 billion, which he continues to expect in the third quarter of this year.

Tesla is ramping up production of its all-important small auto. The woman also told police that she was looking at his phone before the collision and estimated the speed of the vehicle at about 60 miles per hour (97 km/h), which is consistent with the testimonies of eyewitnesses.

Jonas said Morgan Stanley was cutting its price target for Tesla stock to $291 from $376, according to CNBC.

Now, Tesla is looking at another PR nightmare as the driver of a auto that smashed into a parked fire truck says her Model S was also in Autopilot mode.

Tesla Inc (TSLA.O) will pause production at its California factory for six days at the end of the May to work on fixes to its assembly line for its new Model 3 sedan, sources inside the company told Reuters.

While Tesla management believes the Model 3's margin falling below the company's 25 per cent target will prove to be temporary, Jonas said the headwinds are more structural.

Tesla declined to comment on the criticism from Jonas.

Autopilot, a form of advanced cruise control, handles some driving tasks and warns those behind the wheel they are always responsible for the vehicle's safe operation, Tesla has said.

According to the WSJ article, Musk and other Tesla executives chose not to add eye-tracking technology to Autopilot "because of costs" as well as due to concerns that the technology may not be effective or may infuriate some drivers by its frequent beeping sound.

The investigation into the crash in Utah is ongoing, police said. "Approx 4X better than avg", Musk said. If you are driving a Tesla equipped with Autopilot hardware, you are 3.7 times less likely to be involved in a fatal accident.

"It's super messed up that a Tesla crash resulting in a broken ankle is front page news and the ~40,000 people who died in U.S. auto accidents alone in past year get nearly no coverage", he tweeted.

The US National Transportation Safety Board is investigating the accident, which led to the death of a 38-year-old father of two, Walter Huang.

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