Tesla Says ‘Quite Likely’ to Meet 5,000-a-Week Model 3 Production Goal

Elon Musk reiterates that the company won’t need to raise cash

Tesla Inc. will “quite likely” meet its goal of making 5,000 Model 3 cars in a single week by the end of the month, Chief Executive Elon Musk told investors on Tuesday.

The Silicon Valley electric-car maker has demonstrated the ability to make 500 Model 3s a day, or 3,500 a week, already, he said. The company is pushing to meet the critical 5,000-a-week rate after twice delaying the deadline.

“This...