Mexican Media Brands
Tesla Revenue, Losses Jump
Tesla Motors Inc. reports its first-quarter revenue soared 51% to $939 million as deliveries of its Model S electric sedan zoomed 55% to more than 10,000 units.
#economics
Share
Tesla Motors Inc. reports its first-quarter revenue soared 51% to $939 million as deliveries of its Model S electric sedan zoomed 55% to more than 10,000 units.
But the costs of preparing to launch the Model X crossover later this year also deepened the company's losses to $154 million from $50 million in the first quarter of 2014. Still, the adjusted operating loss of 36 cents per share was much better than the 50-cent loss analysts were expecting.
CEO Elon Musk says Tesla is on track to build 55,000 EVs this year compared with 35,000 in 2014. He also reports construction of the company's first battery "gigafactory" is ahead of schedule. He says the Nevada facility will begin operation late next year.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.