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Tesla losses spike as it fights to ramp up Model 3

Tesla losses spike as it fights to ramp up Model 3

At one point, Tesla had 500,000 people on a waiting list for the Model 3, but it's not clear if all of them are continuing to wait.

It looks like Tesla is prioritising the more expensive versions of the vehicle over the loss-making base variants, but the report mentions that it was not an unexpected move.

Much attention from analysts and the public has been focused on Tesla's Model 3 sedan, the company's entry-level electric vehicle and its bid for the mass market. "So to test it, Elon Musk sent up his own Tesla convertible with a dummy astronaut at the wheel, blasting David Bowie's "Life on Mars.' That's right, this is absolutely true: A giant phallus cranking rock 'n" roll, releasing a red convertible into the dark void - and the award for Most Midlife Crisis goes to Elon Musk". But he also said the company had learned many invaluable lessons from the troubles, and made major strides in efficiencies along the production lines.

Building battery modules for the auto remains a challenge in part because Tesla was "a little overconfident" in its ability to make them, Musk said.

Tesla Inc (NASDAQ:TSLA) posted strong fourth-quarter results as the company's loss was narrower than Wall Street expected.

Espanyol vs Barcelona: Boss makes big statement ahead of crunch clash
I know a lot of Espanyol fans that are good people but those at the top don't report those insulting chants. Marc-Andre ter Stegen will come back fresh in goal, after resting midweek in the Copa del Rey.

Musk said he was "cautiously optimistic" Tesla would become profitable, though he didn't say when.

Today, news broke that delivery of the base variant of the Model 3 has been pushed back to early 2019.

Still, the fact that Tesla didn't further delay the production goal for the Model 3 "should be taken positively", CFRA's Levy said in his note. But the company said its twice-delayed target of producing 5,000 Model 3s a week would remain in place, with the firm aiming to hit that number by the end of June - though it didn't express total confidence that its production ramp-up would allow it to meet the target.

The Model 3 sedan was first announced by CEO Elon Musk in March 2016.


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