It took Tesla some time to hit its goal of producing 5,000 Model 3s a week, but Elon Musk's car company is apparently ready to ramp up production in a big way.
In its second quarter earnings report Wednesday, the electric automaker said it expects to manufacture more than 6,000 of the mass-market vehicles a week by the end of the month, and most factories would be able to produce 10,000 cars a week by the end of the year.
That would be a big step toward achieving profitability. Musk has said that sustained production of the Model 3 is essential for increasing cash flow and cutting losses. Though Tesla posted a bigger loss than expected for the quarter ー $3.06 a share versus an estimated $2.92 loss per share ー the company burned through $739.5 million, less than the $1 billion it lost at the start of the year.
In all, the company produced more than 53,000 cars ーModel 3s, Model Ss, and Model Xs ー during the second quarter, and delivered almost 41,000 vehicles. It also took a restructuring charge for cutting its workforce by 9 percent.
Shares of Tesla were up more than 4 percent after the report.
For more on this story, [click here](https://cheddar.com/videos/tesla-stocks-rise-after-earnings-report).
Neil Young has come up with an ultimatum for Spotify: his music or Joe Rogan’s podcast. This comes over concerns that the podcast is spreading COVID-19 vaccine misinformation to its listeners. "The Joe Rogan Experience," which is exclusive to Spotify, is currently the number one streamed podcast on the platform.
Commercial and residential buildings account for 13% of carbon emissions in the U.S., according to the EPA, and one company says it has a solution. Runwise says it has updated the boiler and heating systems of thousands of buildings, and that its technology not only lowers carbon output but also saves landlords money. Lee Hoffman, Co-Founder and COO of Runwise, joined Cheddar Climate to discuss.
Jo Ruxton, Founder of Ocean Generation, joins Cheddar Climate, where she explains the threat that plastic pollution poses to marine life, but elaborates on why we shouldn't be looking to ban plastic entirely. Ruxton also discusses her biggest takeaways while producing the film ‘A Plastic Ocean.'
President Joe Biden's Build Back Better deal seems all but finished after months of Democratic infighting and the Senate's deadlock over certain provisions. But Biden mentioned during a press conference marking his first year in office that 'chunks' of the bill could be passed. Is that enough motivation to force Democrats to rally around certain parts of the bill - especially those that focus on climate and green energy? Andrew Freedman, Energy and Climate Reporter at Axios, joins Cheddar Climate to discuss whether Senate Democrats will be able to rally around climate provisions, if the idea of passing Build Back Better in 'chunks' is doable, and more.
Anyone who remembers the 70s and 80s will probably remember acid rain. Industrial emissions acidified precipitation around the globe, which killed forests and crops, rendered lakes inhospitable, corroded buildings, and exacerbated human health problems.
But anyone who follows environmental news will be surprised to learn this: we solved it! Countries came together to limit acid rain-causing emissions, eliminating the problem altogether.
…kind of. Acidic precipitation may not be a thing of the past after all.
Natalie Ginsberg, Global Impact Officer, MAPS, joins Cheddar Reveals to discuss MAPS organization and its current initiatives and their work to get FDA approval for MDMA to treat PTSD.
Kelsey Ramsden, Co-Founder, President & CEO, Mind Cure Health, joins Cheddar Reveals to break down what 'psychedelic therapy' could look like once it's legalized and how Mind Cure Health is using AI to help treat everything from addiction to depression.
On this episode of Cheddar Reveals, Natalie Ginsberg, Global Impact Officer, MAPS, discusses the MAPS organization and its current initiatives and their work to get FDA approval for MDMA to treat PTSD; Kelsey Ramsden, Co-Founder, President & CEO, Mind Cure Health, breaks down what 'psychedelic therapy' could look like once it's legalized and how Mind Cure Health is using AI to help treat everything from addiction to depression; Cheddar gets a look at Curiosity Stream's 'Pain, Pus and Poison.'
