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).
A 29-year-old Cincinnati woman was awakened by her Apple Watch, which alerted her about an elevated heart rate, prompting her to head to a doctor who notified her of a blood clot.
Cheddar News checks in with a coast-to-coast forecast of the weather.
A quarantine is in place for a section of Broward county in Florida due to a rise in African land snails, which are harmful to agriculture and can eat their way through about 500 plant species.
Climate change is on trial in Montana. In a landmark case, 16 young people are suing the state over effects like smoke, heat, and drought. It's just the first in a series of cases intended to pressure lawmakers into taking action on the environment. Here with more is Cheddar News Senior Reporter Chloe Aiello.
Be Well: 2-Minute Breathing and Stretching Routine
Be Well: Keeping Your Kids Safe During Summer Sports & Activities
Members of the United Nations adopted the first-ever treaty to protect marine life in the high seas on Monday, with the U.N.'s chief hailing the historic agreement as giving the ocean “a fighting chance.”
A search is underway for a deep-sea vessel that went missing with five people aboard after it dived toward the deteriorating wreck site of the Titanic ocean liner. What we know so far.
U.S. Hit With Record Breaking Heat Waves
It's only June and already scientists are saying it could be the hottest year on record, as the warming effects of El Niño will continue to strengthen into the fall and winter. Here with more is Cheddar News Senior Reporter Chloe Aiello.
