// IP Marketing video - START// IP Marketing video - END

Tesla reports biggest-ever quarterly loss

Tesla reports biggest-ever quarterly loss

PanARMENIAN.Net - The tech billionaire Elon Musk sent one of his Tesla electric cars into space yesterday, a day before the company that built it announced its biggest ever quarterly loss, The Guardian reports.

Musk’s Tesla electric car and energy storage company lost $675.4m in the three months ending December 31, the company announced on Thursday, February 8, compared with a loss of $121m for the same period last year.

The company has been spending heavily as it rolls out the next generation of electric cars, the Model 3 sedan, a semi truck and other products.

The company has struggled to keep up with is production targets for the Model 3 but said it would probably build about 2,500 Model 3s per week by the end of the first quarter and that it plans to reach its goal of 5,000 vehicles per week by the end of the second quarter.

On Wednesday Musk’s private aerospace company, SpaceX, blasted a cherry red Tesla Roadster sports car into space in a successful test of its Falcon Heavy rocket.

The car and its dummy driver are now heading towards the asteroid belt.

 Top stories
Sophia the Robot has shared a picture with Armenian Prime Minister Nikol Pashinyan and his wife Anna Hakobyan on her Twitter.
Teamable has brought in $5 million from new investor Foundation Capital and existing backers True Ventures and SaaStr Fund.
According to the Deputy Minister, the agreement was reached during a recent visit by Deputy Prime Minister Tigran Avinyan to Los Angeles.
Apple announced iPhone Xs and iPhone Xs Max, which will be available in Armenia beginning September 28.
Partner news