Model 3 Production Snags Drive Tesla Shares Down

Newswire

Oct 3 (Reuters) - Shares in Tesla Inc were down 2 percent in trading before the bell on Tuesday after the luxury electric vehicle maker said its planned ramp-up for the new Model 3 mass-market sedan faced production bottlenecks. Tesla, which began production of the Model 3 in July, has so far delivered just 220 of those sedans and produced 260 during the quarter. The production of 260 Model 3 sedans in the quarter was far below the 1,500 target and Tesla's production goal of 5,000 a ...

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