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).
Energy company Chevron has set a goal to reduce its operational carbon footprint to net zero by 2050. However, the company has not committed to reducing emissions on its gas and oil products.
Google's users will now have extensive greener options. The updated services across platforms will allow users to look for eco-friendly routes in Google Maps, book flights with low carbon emissions, and reduce energy usage at home with Nest thermostats.
The recent California oil spill has wreaked havoc on the shores of Huntington Beach as wildlife habitats and potentially some people have been exposed to the 140,000+ gallons of oil in the ocean. Cheddar News was joined by Dr. Deborah Bronsan, President of Deborah Bronson & Associates to learn more about the environmental dangers and how the area can recover from this tragedy.
Blue Bear Capital, a venture and growth equity firm focusing on AI-powered solutions for the world’s energy, infrastructure, and climate challenges, recently announced it has raised $150 million dollars in new funding. Ernst Sack, Partner at Blue Bear Capital, joins Cheddar Climate the vision his company has when it comes to combating climate change.
Several major carriers have followed in the steps of United Airlines and will now require its staff to be vaccinated against COVID-19. Those airlines include American, Jet Blue, and Alaskan.
