Mexican Media Brands
Tesla’s Losses Triple as Deliveries Rise
Tesla Motors Inc.’s third-quarter revenue rose 10% to $937 million, and deliveries of its electric cars jumped 49% to 11,600 units.
#economics #hybrid
Share
Tesla Motors Inc.’s third-quarter revenue rose 10% to $937 million, and deliveries of its electric cars jumped 49% to 11,600 units. But the company’s net loss tripled to $230 million.
Tesla says its product development spending rose by one-third in July-September. The company also spent nearly $400 million preparing its California factory to build the Model X crossover and to continue construction of its $5 billion battery making plant in Utah.
CEO Elon Musk says the company expects to deliver at least 17,000 cars in the fourth quarter, which would bring full-year sales to 50,000-52,000 units.
Musk reiterates that the company expects to unveil a prototype of its third car, the moderately priced Model 3, in March. Tesla’s ability to transition from a money-losing niche player to a profitable mass-market EV producer hinges heavily upon the success of the Model 3.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future