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After years of hype, Tesla finally did it. CEO Elon Musk reached his goal of making 5,000 Model 3s in a week: signalling that Tesla has become a “real car company.” It now expects to increase to 6,000 per week by late August, using among other things a production line inside a tent next to its Fremont factory. Efficiency has jumped: Tesla’s engineers unexpectedly determined that cars built now need 300 less welds than cars built a short time ago. While traditional automakers ridicule the relatively small numbers, Tesla is regaining it mythic reputation. Given this position in the market, forecasts of electric-vehicle growth and lack of real competition, Tesla’s outlook remains bright.

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