Tesla (TSLA) Hits New Production Milestone Ahead of Schedule

Tesla (Nasdaq: TSLA) shares are trading over 2 percent higher Monday morning amid news that the company recently hit a new production milestone.

According to Electrek.co, Tesla is now producing 2,000 cars per week, or an annualized rate of 104,000 cars. That's up from a production rate of 400 per week in 2013 and comes about two weeks ahead of schedule.

Electrek.co cited information from a recent Tesla Weekend Social event on the news.

Tesla said with its Q2 shareholder letter that it was planning to reach the milestone before the end of Q2, which is at the end of June. Overall, the company is planning to deliver 80,000 to 90,000 vehicles for 2016.

You May Also Be Interested In

• Paper Transport: partnership with Tesla to evaluate Tesla semi long range in dedicated operations within Chicago market
• Sunrun launches pilot to run AI compute nodes in customer homes
• Active options: NVDA TSLA AAPL AMD INTC ORCL MU META AMZN