(Reuters) – Tesla Inc said on Wednesday it expects to increase Model 3 production to 6,000 per week by late August, buoying expectations that the Elon Musk-led electric vehicle maker will meet its goal of profitability and positive cash flow in the next two quarters.
Tesla said it expects to produce 50,000 to 55,000 Model 3s in the third quarter.
The company said it produced 53,339 vehicles in the second quarter and delivered 18,449 Model 3s.
“We aim to increase production to 10,000 Model 3s per week as fast as we can,” the company said.
Reporting By Alexandria Sage and Sonam Rai; Editing by Sriraj Kalluvila