Tesla posts their biggest quarterly loss

SpaceX rocket means 'an entire new set of capabilities' for the Pentagon, says ex-Protection official

SpaceX rocket means 'an entire new set of capabilities' for the Pentagon, says ex-Protection official

Tesla posted a loss of £487,221,750 in the fourth quarter of 2017, its biggest loss yet and nearly £400 million more than what it posted in the same period of 2016.

But revenue also increased by $1 billion, from $2.284 billion in the fourth quarter of 2016 to $3.288 billion in the fourth quarter of 2017.

But demand for its other two cars, the Model S and X, helped push Tesla's sales to $11.8 billion for 2017, up 55% from the year prior. "Following launch, Falcon Heavy's second stage will attempt to place the Roadster into a precessing Earth-Mars elliptical orbit around the sun", the company had stated in a release.

As its payload, the test rocket carried Elon Musk's Tesla Roadster and a dummy named "Starman" wearing one of SpaceX's spacesuits.

"With the planned ramp of both Model 3 and our energy storage products, our rate of revenue growth this year is poised to significantly exceed last year's growth rate".


But it was also a year of manufacturing setbacks that Musk said, last quarter, had put the Model 3 "deep in production hell".

"It's ironic since battery modules should be the thing we are best at", Musk told analysts.

"The competitive strength of Tesla long term is not going to be the vehicle (s), it's going to be the factory, we're going to productise the factory", he said. The production and delivery of the Tesla Model 3, their "affordable" $35,000 (£25,227.30) auto seems to be hitting several roadblocks.

- Tesla expects to send one of its EVs on an autonomous coast-to-coast road trip in the U.S. in three to six months.

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