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).
NASA is gearing up this week for a mission to launch a SpaceX Falcon 9 rocket into a near-Earth asteroid in an attempt to move it slightly off its projected course. Thomas Zurbuchen, an associate administrator for the NASA Science Mission Directorate, joined Cheddar's "Opening Bell" to provide some additional details about the Double Asteroid Redirection Test (DART) and explained why it is necessary as a means to protect Earth.
With Thanksgiving two days away, the USDA is reminding hosts of the importance of food safety. Karen Hunter, Food Safety Expert, USDA, joined Cheddar's Opening Bell to discuss the best food handling and leftover tips ahead of the holiday.
Jill and Carlo are a bit delayed today on account of Carlo's internet not working. Better late than never, they discuss what we know about the suspect in the Christmas parade crash, closing arguments in the Arbery killing trial, and more.
If you’ve ever watched a show or movie where a character is unconscious for some reason - drowning, electrocution, stabbed in a knife fight - you probably know what to expect next. Some hero will come perform what looks like cardiopulmonary resuscitation (CPR) for a minute or two, perhaps in slow motion, and definitely with a dramatic musical score. And bing, bang, boom, the unconscious character miraculously comes back to life.
If you’ve ever suspected that this is a gross exaggeration of the efficacy of CPR, well, you’re right. But exactly how wrong Hollywood gets CPR is hilarious at best and downright dangerous at worst.
Countries around the world continue to grapple with rising COVID cases, with Germany confirming case numbers at their highest at any point during the pandemic. German officials say that 48,000 new cases are being reported everyday.
Jill and Carlo cover the developing story out of suburban Milwaukee, where a speeding SUV careened through a Christmas parade. Looters get more brazen in San Francisco, the missing Chinese tennis star resurfaces, and more.
A CDC panel has unanimously endorsed boosters of the Pfizer and Moderna COVID-19 vaccines for all adults. Internal medicine physician Dr. Vivek Cherian joined Cheddar News to weigh in.
Neuroscientist Dr. Bankole Johnson joined Cheddar News to talk about the expectation of boosters for all U.S. adults and what the move would mean in the fight against the pandemic.
Deborah Sass, CO-CEO and Founding Partner of Space Hero, joins ChedHER to discuss how she's creating a global competition to send someone on a 10-day trip to space, her experience in the space industry without a background in STEM, and how she hopes to inspire younger generations of women.
