- Tesla has been seen stocking up on the new Model 3 at its stores and delivery centers.
- Tesla has been plagued by production issues for the Model 3 recently and is working to overcome them.
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Tesla is rising after reports it has started to deliver the Model 3 to regular customers (TSLA)
Tesla has been seen stocking up on its Model 3 at its stores and delivery centers, which could mean its moving past the production issues plaguing the Model 3.
Tesla is up 3.88% to $327.29 on Monday after reports that the company is starting to deliver its Model 3 to regular customers.
Electric car blog, Electrek, is reporting that Tesla is starting to deliver cars to customers that aren't employees or company insiders. Electrek is also reporting that Tesla has been stocking its stores and delivery centers around Los Angeles with Model 3s, and posted a video showing more than 100 Model 3s at the company's Fremont delivery center.
Deliveries and full parking lots do not necessarily mean the company has overcome the production bottlenecks that have plagued the Model 3 thus far, but it is a good sign. The Model 3 has a preorder list of about 450,000 customers, while Tesla only produced 260 of the vehicles in the third quarter.
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Panasonic, Tesla's major battery production partner, said the bottleneck had to do with the assembly of the Model 3's battery. At the end of October, Panasonic's CEO said the problems have been solved, and production would "rise sharply."
The company is working toward its revised goal of producing 1,500 Model 3s per week by the end of the first quarter, which was originally its goal for 2017.
Tesla is up 52.6% this year.
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