Tesla said it would produce its new Model 3 sedan at a profit after several recent weeks in which output stabilised, buoying hopes that the electric vehicle maker led by Elon Musk will stanch its financial losses in the second half of the year. Chief Executive Musk is under intense pressure to prove he can deliver consistent production numbers for the sedan, Tesla’s lowest-priced model and the key to its plans to become a mass-market automaker, after a host of manufacturing challenges and concerns it was running through cash too quickly. Despite Tesla reporting a record loss that doubled to $718 million (roughly Rs. 5,000 crores) in the second quarter, shares jumped as much as 11 percent in after-hours trading, as investors focused on steadier production volumes and a slower rate of cash burn. That put it on track to retake the title of most valuable US automaker from General Motors Co. The company cut its capital spending plans and said it would not hit its long-term rate of producing 10,000 Model 3s per week until next year, trading off production ramp speed for financial health. “We like the more muted tone of the company’s outlook, with the absence of… Read full this story
- Tesla raises prices of Model X and S by $20,000 amid US-China trade wars- Technology News, Firstpost
- Apple updates Mac Pro specs, promises redesigned model
- Tesla hits 5,000 Model 3 target after exhausting week, fails to impress investors, automakers
- Tesla made 5,000 Model 3s in a week. Can it continue?
- Tesla Debuts $35,000 Model 3, Makes Global Sales Online-Only
- Tesla’s Finally Hitting Its Production Targets, Barely
- Tesla aims to start China production this month, report says
- Tesla Roadster to be replaced by 2014
- Tesla Hits Model 3 Target and Focus Shifts to Sustainability
- Tesla Reports a Rare Quarterly Profit, Its Biggest Ever
Tesla Flags Promise of Profit as Model 3 Production Steadies have 301 words, post on gadgets.ndtv.com at August 2, 2018. This is cached page on Talk Vietnam. If you want remove this page, please contact us.