Tesla lost three months more than 700 million dollars

Tesla lost three months more than 700 million dollars

April 26, 2019 0 By autotimesnews

Tesla Motors in the first quarter of this year suffered a major loss – the net loss of the American manufacturer of electric vehicles amounted to 702 million dollars. This is reported in the company report. In just the first three months of this year, the American company sold 63,000 of its electric cars. This figure is 31% less than the figures for the same period last year.

The company’s founder, Elon Musk, promised Tesla would return to profit in the third quarter of 2019. In addition, the company plans to increase the production of electric vehicles in 2019 to 400,000 vehicles, reports Bloomberg.

In March, Tesla introduced its new compact electric crossover called Model Y. Car prices start from 39,000 dollars. The crossover borrowed the existing chassis from the Tesla Model 3. The Model Y received two electric motors and will be offered with battery packs of various capacities.

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In the near future Tesla plans to present an electric pickup. The car will receive a futuristic design in the style of cyberpunk. Already, as standard, the car will have two electric engines with “crazy torque” and four-wheel drive. The car will be able to drive about 650–800 kilometers without recharging the batteries.

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