Tesla Model 3 Roof Rack Options - Electric Vehicle
Tesla unveiled its first mass market vehicle in April 2016, the Model 3 sedan. The Model 3 was less expensive than Tesla's previous three vehicles, and within a week, the company received over 325,000 paid reservations.[49] To speed up production and control costs, Tesla invested heavily in robotics and automation to assemble the Model 3, but the robotics actually slowed the production of the vehicles.[50] This led to significant delays and production problems, a period which the company described as "production hell". By the end of 2018, the production problems had been overcome, and the Model 3 became the world's best-selling electric car from 2018 to 2021.[53][54]
This period of "production hell" put significant financial pressure on Tesla, and during this time it became one of the most shorted companies in the stock market. On August 8, 2018, amid the financial issues, Musk posted on social media that he was considering taking Tesla private.[55][56] The plan did not materialize and gave rise to much controversy and many lawsuits including a securities fraud charge from the SEC, which would force Musk to pay a $20 million fine and step down as the company's chairman, although he was allowed to remain the CEO.
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