Tesla lost over $ 700 million in three months

Tesla lost over $ 700 million in three months

August 2, 2018 0 By autotimesnews

The company Tesla Motors in the second quarter of this year suffered record losses – the net loss of the American manufacturer of electric cars exceeded 717 million dollars. This is reported in the company’s report. As a result of the first quarter, the company also incurred losses – $ 709.5 million.

The American company will explain such losses by big investments in new models. Among them, the first place belongs to the Model 3 electric car. In Tesla they assured that this electric car has already started to make a profit. In total, the company is going to produce 50-55 thousand such cars in the third quarter

Earlier, the head of Tesla Elon Musk appealed to the suppliers with a request to return some of the money that was paid to them under the terms of contracts from 2016 onwards. The document states that, thanks to this return, Tesla will be able to make a profit and continue its normal operation. In the company itself, they are only talking about negotiations with suppliers to reduce the price of some contracts.

In April of this year, shares of the American company Tesla collapsed by 5.1% during trading on the New York Stock Exchange. According to analysts, this led to a number of negative events that occurred to the automaker over the recent period.

Tesla, a company focused on the production of electric vehicles, was founded in 2003. Since 2008, he sells the Tesla Roadster. In 2012, the company introduced the Model S sedan. The manufacturer’s headquarters are in Palo Alto, California.