Tesla keeping Model 3 steady overshadows CFO exit

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A Tesla Model S electric car on display at a Beijing show. (Mark Schiefelbein, AP)
A Tesla Model S electric car on display at a Beijing show. (Mark Schiefelbein, AP)

San Francisco - Elon Musk gave Tesla shareholders the welcome news he still plans to deliver his mass-market electric sedan in July, overwhelming any concern with disclosures the company’s chief financial officer is exiting and its finances would run "close to the edge" without another cash infusion.

The Model 3 electric sedan remains on schedule and will reach production of about 5 000 units per week by the end of the year, Tesla said on Wednesday.

Reassurances from Musk on the car’s timing should relieve fretting over whether the company can overcome its long history of product delays, as well as the impending departure of CFO Jason Wheeler, who joined the company 15 months ago from Google.

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