Under federal probe, Tesla shares documents with DOJ about Model 3 production

The Tesla Model 3 Performance goes fast the quality of the ride quality and cornering feel could be better

Tesla approves Model Y for production

In this week's earnings call, Musk confirmed that "we've made significant progress on the Model Y", and he has approved the prototype.

Tesla Inc.'s (NASDAQ: TSLA) shares skyrocketed after the electric vehicle manufacturer topped its third quarter earnings estimates.

He added: "While Tesla is a very innovative and disruptive company with strong growth ahead via disrupting large addressable markets, it is also a classic story stock that is hard to value given that the investment decision is often qualitative rather than quantitative". The company already possesses "driver assistance" available cars that can take care of some tasks but retains the need for drivers to hold the wheel.

Tesla's stock, which rose 5.2% Friday during official trading, was down 1.8% in after-hours trading.

The electric vehicle maker also said its Q3 revenues climbed 70.5% to hit $6.82 billion, up from $4 billion in the second quarter and more than double the $2.98 billion reported in the same period a year earlier.

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Tesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company's chairman but remain as chief executive, under a settlement. Then when the Model X started to generate positive cash flow, he and began the even more ambitious effort to build the mass-market Model 3.

But it seems reasonable to expect a price of at least £50k for a Tesla Model 3 you'll really want. Institutional investors own 62.18% of the company's stock.

"I know for sure Tesla will operate its own ride-hailing service", Musk said.

Next to the Q3 numbers presented last night, in which it was shown that the popular Model 3 helped push Tesla to profitability thanks to record sales, there have been further updates to the Model Y and the ride-sharing plans, as well as Tesla's plans for Europe and China.

Pierre Ferragu, head of technology infrastructure research at New Street Research, said, "Tesla will become one of the major premium auto manufacturers, like Audi and Jaguar ... within the next seven years", but its success will be from a purely go-to-market perspective, as Tesla has lower costs for marketing and distribution than other automakers. In order to improve upon costs, Tesla offered customers a mid-size range version of the Model 3 which started at United States dollars 46,000.

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In this 2017 Tesla chart, the company said it would build 5,000 Model 3s by end of 2017.

The Model 3 is the focus of a Department of Justice criminal probe of Tesla. And Tesla needed more and more capital for each vehicle because it was trying to achieve higher and higher manufacturing volumes. Further meaning, it fulfilled Musk's promise that the company would move into the black and production of Model 3 sedans would pick up speed. It didn't hit that level of production until the end of June 2018.

However the company ended up producing 2,700 Model 3s for all of 2017, and 793 in the last week of 2017.

Tesla officials "were transparent about how hard it would be" to ramp up Model 3 production, said spokesman Kamran Mumtaz.

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