Tesla has hit Elon Musk’s Model 3 goal.
Musk tweeted late Sunday that Tesla’s team produced 7,000 cars in seven days.
Tesla’s first mass production vehicle missed two ambitious production targets, but Musk promised investors that the company would make 5,000 Model 3s per week by about this time of year.
Although Musk didn’t publicly say how many of the 7,000 cars were Model 3s, he wrote to Tesla staffers that Tesla had achieved its goals, according to multiple news reports.
“I think we just became a real car company….” he reportedly said in the memo.
Tesla did not immediately respond to a request for comment.
Musk’s promise was a major test for the company, and investors were anxiously watching the production outcome. Tesla’s (stock rose 6% in premarket trading Monday. )
Tesla has only reported two profitable quarters in eight years as a public company and is deep in debt. The company is facing questions about its balance sheet, and Musk has lashed out against critics in recent months.
Musk continued to insist that he would hit the target of 5,000 Model 3s a week, and that it would give the company enough sales and profit to make it unnecessary to raise more cash.