The company's production increased from the previous second quarter, when it made 258,580 electric vehicles. In Q3, Tesla faced higher commodity prices, executive departures, and difficulties getting its new factories in Germany and Texas up-and-running. Tesla's new factory in Austin, Texas has since hit a 1,000 vehicle per-week production rate on a seven-day rolling basis. Tesla also had to suspend most of its Shanghai factory production in July to make upgrades to the plant. By August, however, the company's production and deliveries in China had recovered. In the U.S., Tesla fired an entire artificial intelligence office and made other staff cuts during the quarter. The company mandated that all employees return to the office full-time during the quarter. After that, some employees were fired, and others chose to resign. Tesla's stock is down 34% on the year and trading at $265.25 U.S. per share. MENAFN03102022000212011056ID1104961881