Tesla Breaks Production Records With 80,000 Vehicles in Q3, Report Says

October 1, 2018, 4:26 PM UTC

Tesla produced roughly 80,000 vehicles this quarter, breaking company records, electric vehicle news site Electrek reports.

This number includes about 53,000 Model 3 vehicles, a 187% in production increase from last quarter, according to Electrek. Company leaders hope the Model 3 sedan will be the vehicle that turns Tesla into a profitable mass manufacturer, CNBC reports.

The company seems to be on track with these production numbers, despite the legal turmoil surrounding CEO and founder Elon Musk.

The Securities and Exchange Commission charged Musk with fraud last week due to an August tweet suggesting he was taking the company private. The case was settled Saturday, with Musk agreeing to pay a $20 million fine and step down from his role as company chairman; Tesla will also have to pay $20 million in fines.

The settlement news sent Tesla’s stock up Monday morning, with shares up more than 15% in pre-market trade.

Tesla is expected to release official production and delivery numbers later Monday.

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