Tesla increases production of Model 3 due to strong demand

While most of the car manufacturers are scaling down their manufacturing due to decreasing demand, Tesla is doing the opposite. According to the latest report from Bloomberg, Tesla is planning to increase manufacturing output at its factory in Fremont, California. Due to the production ramp up, Tesla is now back in hiring mode. It is important to note that last year Tesla announced layoffs in order to overcome its financial situation. Thanks to high demand for Model 3 among consumers, Tesla is now back on track.

Recently, Tesla announced record 95,200 deliveries in the second quarter. Tesla expects to ship 500,000 vehicles worldwide this year if its Shanghai factory reaches “volume production” early in the fourth quarter.

Source: Bloomberg