By the end of the year, the company hopes to have nearly all of its Model 3 production vehicles fully assembled by mid-March, with more than a third of its vehicle fleet to begin shipping later in 2019.
The goal is to have the fleet assembled by the end, which would mark the end for the company’s $5.4 billion capital-raising plan that the company has said it will use to ramp up production.
Tesla has been able to ramp production in recent months, but the company is now seeing delays to the vehicle assembly process.
In a letter sent last week, Tesla Chief Executive Elon Musk wrote that the automaker is working with suppliers to get Model 3s assembled in time for the holidays.
Tesla’s production timeline has slowed over the last year, and the company recently announced a new round of financing to help it address those challenges.
The company recently increased its capital-raise target to $200 million.
The company has been working on an updated roadmap for Model 3, which Musk has said will cover new features and upgrades over the vehicle’s initial launch in 2020.
Musk has promised that the vehicles will have up to 100 miles per charge, which is about two hours longer than the current 100 miles-per-charge range of the Model S sedan.
Tesla said it expects the Model 3 to sell about 10,000 vehicles by the holiday season, and it plans to make another round of deliveries in the next few months.
Tesla is expecting to ship more than 2 million Model 3 vehicles by 2020.
Tesla currently plans to produce the Model X crossover in 2019, with deliveries beginning in 2020, and to build the Model Y crossover in 2021.
