NEW YORK, NY / ACCESSWIRE / November 19, 2018 / Tesla has begun taking orders in China for its Model 3 with Elon Musk pushing for 7,000 Model 3 sedans made a week by the end of this month. Ford Motors has collaborated with Walmart and Postmates on driverless technology.
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Tesla, Inc. shares were up 1.68% at the close on Friday on mediocre trading volume of around 7 million shares. The electric vehicle giant has started to take orders for its Model 3 from customers in China, according to its China website. CEO Elon Musk tweeted, "Probably some deliveries in March, but April is more certain." It was in October that Tesla said it was planning to speed up the construction of a factory in Shanghai. It was in the company's third quarter earnings report that Tesla said it planned to begin Model 3 deliveries to Europe in early 2019, and in Asia Pacific (APAC) by no later than Q2. According to an internal email, Musk is pushing his workers in his Fremont, California factory in order to produce 7,000 Model 3 sedans a week by the end of the month. “By the 28th, all Model 3 production subsystems [sic] need to be at 50+ [units per hour] steady, which is what’s needed for a true 1000 vehicles per day rate (taking equipment uptime into account),” Musk wrote.
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Ford Motor Company shares closed down 2.79% on Friday on nearly 55 million shares traded. The automaker has partnered up with Walmart and food delivery service Postmates to see how they can make use of driverless technology to deliver food and goods to Walmart customers. Brian Wolf, an executive of Ford's autonomous vehicle unit, stated, "Through this collaboration, we are exploring how self-driving vehicles can deliver many everyday goods such as groceries, diapers, pet food and personal care items. Enabled by Postmates delivery as a service, we were able to quickly set up a pilot program that explores how our self-driving vehicles can complement Walmart's existing delivery offerings. Since Postmates is already a partner of both Ford and Walmart, the companies are able to utilize Postmates' infrastructure to get this offering up and running quickly.
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