Tesla Inc. may be starting to get a grip on the automotive supply chain, but it still has a long way to go, The Wall Street Journal reports.
The company, which dropped the word “motors” from its name, delivered 22,200 sedans and SUVs in the fourth quarter, the WSJ’s Tim Higgins reports. The quarter was Tesla’s second-best ever for deliveries in a business that has struggled with supplier problems and production delays. But the 27% year-over-year growth in the last quarter left the company about 4,000 vehicles short of the 50,000 deliveries that Tesla Chief Executive Elon Musk had targeted for the second half of 2016.
The targets are significant for a business that is trying to redraw motor vehicle supply chains as it changes consumer buying behavior. The company will have to ramp up the pace: it plans to start sales of its Model 3 later this year, a sedan that is supposed to expand annual production to 500,000 cars next year—nearly six times the current rate.