Tesla losses amounted to nearly a billion dollars

Tesla losses amounted to nearly a billion dollars

January 31, 2019 0 By autotimesnews

The losses of the American automaker Tesla in the four quarters of 2018 amounted to about 976 million dollars, or 5.72 dollars per share, follows from the company’s report published on its websit.

This is a billion dollars less than a year earlier. Thus, the company reduced its net loss by 50 percent compared to 2017.

Revenue for the year amounted to 21.5 billion dollars, which exceeds last year’s figure by 82 percent.

In 2019, Tesla plans to slightly reduce the total sales of the Model S and Model X due to the high demand for them in 2018. As the company explains, this demand was breakthrough, so we can expect a slight decrease. In 2019, it is projected to bring the weekly production of Model 3 to 7 thousand.

The American company Tesla Motors was founded in 2003 as a developer and manufacturer of electric vehicles and technologies associated with them. The company’s headquarters is located in Palo Alto, California, USA. In addition to electric cars, the company produces batteries and electric motors using its own technology and sells to other car companies, in particular, Toyota and Daimler.