Investor's Corner
Elon Musk reveals first Tesla Model 3 Performance in new assembly line at Fremont
Elon Musk has announced that the first Model 3 Performance Dual Motor has rolled off Tesla’s new assembly line. Musk’s update comes roughly a month after Tesla opened orders for the high-performance version of the compact electric car.
The Model 3 Performance was initially expected for July. In a series of tweets back in April, Musk stated that the Performance and the Dual Motor AWD variant of the vehicle would likely be introduced in July. The popular white seats option — another highly-anticipated feature for the Model 3 — was teased for a July release as well. According to Musk’s tweet, however, the Tesla team was able to set up a new Model 3 assembly line in just three weeks with “minimal resources.”
Amazing work by Tesla team. Built entire new general assembly line in 3 weeks w minimal resources. Love u guys so much! Pic of 1st Model 3 dual motor performance coming off the line … pic.twitter.com/Xr55P3fmGd
— Elon Musk (@elonmusk) June 16, 2018
Part of the mystery behind the Model 3 Performance’s production line is exactly where general assembly of the vehicle is being conducted. While not yet officially announced, the tent-like structure at the background of the Model 3 Performance in Musk’s tweet seems to directly correspond to a seemingly growing structure that was spotted in satellite images of the Fremont factory over the past few weeks. The progress in the structure’s construction could be seen in the following pictures from Building Tesla.
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- A satellite image of Tesla’s Fremont factory as of June 16, 2018. [Credit: Building Tesla]
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- A satellite image of Tesla’s Fremont factory as of June 3, 2018. [Credit: Building Tesla]
The fact that Tesla is already starting the production of the Model 3 Performance bodes well for the company’s capability to manufacture the compact electric car in volume. Musk, after all, has previously noted on Twitter that Tesla would only start manufacturing the Model 3 Performance and the Dual Motor AWD variant once the company is already producing the electric cars at a pace equivalent to 5,000 vehicles per week. Back in the 2018 Annual Shareholder Meeting, Musk announced that Tesla is producing 500 Model 3 per day, or 3,500 Model 3 per week. A recently-leaked email from Elon Musk, however, suggested that the company is now targeting a pace of 700 Model 3 per day, which equates to 4,900 vehicles per week, just 100 cars shy of its goal of producing 5,000 Model 3 per week by the end of Q2 2018.
The Tesla Model 3 Performance is the top-tier variant of the compact electric car. Fitted with an AC induction motor in the front and a partial permanent magnet motor in the rear, the Model 3 Performance is capable of sprinting from 0-60 mph in just 3.5 seconds. The vehicle also has a top speed of 155 mph and a range of 310 miles per charge. The white seats option will also be available for the Model 3 Performance only, at least until Tesla fully optimizes its production line. The Model 3 Performance, with all options except Autopilot, is available for $78,000, making it a bit pricier than the Model S 75D, which starts at $74,500.
The Model 3 Performance is set to deliver formidable performance, however. According to Musk, the Model 3 Performance would be 15% faster than a BMW M3 on the track. Musk has also teased that there’s a chance that the high-performance variant of the Model 3 would see an even higher power output than initially announced.
Configuration emails for the Model 3 Performance are now rolling out to reservation holders. Musk has also announced that the Model 3 Performance will be designated as test drive vehicles in Tesla stores within the coming weeks.
Investor's Corner
Tesla crushes Wall Street expectations, beats delivery estimates by over 15 percent
Tesla (NASDAQ: TSLA) beat Wall Street expectations of 406,000 vehicles delivered in Q2 by reporting 480,126 deliveries for the three months ending in June.
Tesla reported it delivered 467,762 Model 3 and Model Y units, while 12,364 Model S, Model X, and Cybertrucks switched hands during the quarter. The Model S and Model X were officially sunset this past quarter and will no longer be part of the company’s Production & Delivery reports moving forward.
🚨 BREAKING: Tesla delivered 480,126 vehicles in Q2, ANNIHILATING Wall Street expectations of 406,000. Production was reported at 451,758.
Deliveries:
Model 3/Y: 467,762
Other Models: 12,364Production:
Model 3/Y: 442,936
Other Models: 8,822 https://t.co/TTHwQAsKt8 pic.twitter.com/7qI4Zj6FE5— TESLARATI (@Teslarati) July 2, 2026
The quarter is a pleasant surprise and a good rebound from Q1, when Tesla slightly missed the Wall Street consensus of 365,645 cars by reporting 358,023 deliveries for the first three motnhs of the year.
Energy storage deployments also provided some strength in Tesla’s delivery report, hitting 13.5 GWh for Q2. This is a particular division of Tesla’s business that has been overwhelmingly robust over the past few years, truly being a strong point of the company’s overall model.
For the year, Tesla analysts still predict deliveries to trend in the 1.69 million unit region, a modest 3 to 5 percent increase from the 1.64 million cars the company delivered last year. Tesla will likely return to more sequential and noticeable year-over-year growth as the Cybercab project starts to ramp up considerably in the next few years.
Tesla has some other potential catalysts to spur vehicle deliveries, too. Not only is it expecting Cybercab to truly start making a change in the next few years, but other vehicles could be entering the company’s lineup.
Tesla sends production Cybercab with no steering wheel, pedals to on-road testing
The slightly longer Model Y L has been a highly speculated release candidate in the U.S. It has already done incredibly well in China, and U.S. buyers have been wanting slightly more interior space than the Model Y. Now that the Model X is gone, it is more needed than ever.
Q2 highlights a pretty stable automotive division within Tesla, and no true concerns arise from these figures, especially considering it managed to beat expectations convincingly.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla brings Model Y L ‘Launch Series’ to the U.S. at $61,990
Tesla just told us twice that Model Y L is coming to the U.S.
