Tesla Losses Reach $293 Million

Elon Musk’s Tesla Motors said it posted a loss of US$293 million (A$384 million) in the second quarter, sharply wider than a year ago, as deliveries of its electric cars fell short of expectations and expenses rose.Tesla lost $150 million –
more than double the loss that Wall Street had expected – in the period ended
June 30. Revenue was up 33 percent at $1.27 billion.

Tesla adjusted its delivery count for the quarter to 14,402. It had originally
hoped to deliver 17,000 vehicles in the quarter. The company said it is on
track to build 50,000 vehicles in the second half of the year, after delivering
just under 30,000 in the first half.