MarketWatch First Take: Tesla has not lived up to Elon Musk’s biggest promise yet

Elon Musk and Co. are doing another victory lap Monday, after Tesla Inc. achieved a major production milestone, but Musk’s biggest promise to investors is far from secure.

Tesla TSLA, -2.30%announced early Monday that it produced 5,013 Model 3 cars in seven days, achieving the production rate that Musk had previously promised would happen last year. Tesla employees have reportedly been working around the clock, even building a temporary tent in the parking lot of the company’s Fremont, Calif., plant to speed up a production process that was flawed by an early reliance on too much automation.

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