Tesla Model 3 production to start in JulyFebruary 23, 2017 - 14:45 AMT PanARMENIAN.Net - Tesla Motors released its fourth quarter 2016 earnings report to shareholders, and for the most part things look good in the world of Elon. Despite missing a few expected targets, on average the company performed as or better than expected, even with the controversial acquisition of Solar City, Autoblog reports. Revenue for the quarter was expected to be $2.201 billion with a loss of $0.13 per share, but Tesla delivered a higher revenue $2.284 billion, but missed with a loss of $0.78 per share. Full-year revenue was up 73 percent over 2015 at $7 billion. The company's cash balance grew by $300 million. On the production front, Tesla expects to sell up to 50,000 Model S and X vehicles combined in the first half of 2017. That could mean up to a 71 percent improvement over the first half of 2016. The company also told investors that battery production has started at the new Gigafactory, and that Model 3 production is still on track for July with full-scale production starting in September. That means some owners should expect to see their cars by the end of the year, Autoblog said. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |