Chipmaker Infineon to supply parts to Tesla Model 3

Despite Tesla entering "production hell" as he puts it, Musk says he's never felt better about the company.

In its earnings letter for 2017 Q2, the company revealed how the process will work, TechCrunch reported. As more details about the auto, its features, and the long S-Curve production timeline leaked out, its raised at least some uncertainties about how successful this vehicle will actually be. "Model S has more advanced technology".

Tesla has received 500,000 orders for the Model 3. They already changed the concept that electric cars are boring and slow with their previous model and the model 3 is going to be incredibly fast but it is also going to be so affordable starting from $35,000.

Senior Analyst Clement Thibault reported another problem with customer support and especially refunding the $1,000 deposit buyers had to pay in order to reserve a Model 3. The company's net loss increased to $336 million, yet the massive loss wasn't disastrous for Tesla's stock.

Revenues are estimated to double to $2.55 billion. Tesla's most anticipated Model 3 has greatly influenced the results and the waiting list for the cheaper alternative electric vehicle grows longer and longer. "We believe Tesla shares are an overvalued show me story".

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Tesla CEO Elon Musk said Wednesday the company may push back its big demonstration of its self-driving tech. "We're also very confident about costs".

Tesla, which had faced production issues, said it still expects Model S and Model X deliveries to increase in the second half of 2017, as compared to the first half of the year, when it delivered over 47,000 cars.

"It's like if you're a restaurant and you're serving hamburgers, and there's an hour-and-a-half wait for a hamburger, do you really want to encourage people to come buy more hamburgers?", Musk said in an earnings call. Within days of the announcement, the automaker had secured almost 300,000 reservations for its mainstream electric vehicle.

He's not wrong about the wait, though: If you place a reservation right this very minute, you probably won't get your auto until the middle of 2018 or even later, Wired.com notes.

Offering evidence that he isn't the only one excited about the company, he cited an unlikely metric: news articles following the Model 3 launch.

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