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Tesla said in built 2,020 Model 3s in the past seven days, and expects to produce 2,000 more over the next seven days, as well as 2,000 Model S and Model X units combined.

Tesla (NYSE:TSLA) published its production figures for Q1 2018, indicating that it has made significant progress in scaling up production of its mass-market sedan, the Model 3, which saw production rise fourfold quarter-over-quarter to 9,766 units.

The agency said future ratings will depend on whether Tesla can meet Model 3 production targets.

Tesla says it made just under 35,000 vehicles total in the quarter including the Models S and X. That's a 40 per cent increase from last year's fourth quarter.

"(Tesla is) laying the groundwork for Q3 to have the long-sought ideal combination of high volume, good gross margin and strong positive operating cash flow", the company said in the filing.

Wall Street analysts that have seen Tesla shares plunge by 33 percent over the past six months were not impressed with Musk's stunt, and warned the company may be in default of its credit agreement and be forced to raise cash at firesale prices. The company's current price of $261.35 represents a more than 30% drop from its all-time high in September 2017, when it touched an intra-day high of $389.61 per share.

This story will be updated. "Elon was found passed out against a Tesla Model 3, surrounded by "Teslaquilla' bottles, the tracks of dried tears still visible on his cheeks".

Net Model 3 reservations remained stable through the first-quarter.

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Tesla CEO Elon Musk blasted a journalist on Twitter Tuesday for publishing a report suggesting the Silicon Valley billionaire is struggling to mass produce the supposedly low-cost Model 3. Significantly, Tesla said it expects to make 2,000 over the next seven days, which it said "is a testament to the ability of the Tesla production team". It had promised to produce 2,500 a week by the end of the first quarter, which ended Saturday.

The company also responded to concerns about the Model 3's quality.

For now, though, Tesla's solar energy business is taking a back seat to the Model 3.

Meanwhile, investors raised their bets against Tesla shares by 10 per cent since mid-March, according to data provided by S3 Partners LLC on Tuesday, betting the market has misjudged the electric auto maker's prospects.

Tesla's press release is not wanting for optimism though.

Amazon also pushed higher, winning 1.5 per cent as investors greeted headlines that suggested President Donald Trump did not plan to follow up a series of irate tweets with concrete action against the company.

By the most generous calculation, Tesla's Q1 sales fell short of analyst estimates by 21%. It would be an "incredible victory", Field wrote in a memo obtained by Bloomberg, to reach Tesla's production goal of assembling 2,500 Model 3 vehicles every week by the end of the fiscal quarter.


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