Tesla is settling into the first circle of “production hell.” AntonyMCurrie
Tesla reported a first-quarter loss of $702 million after U.S. stock markets closed on April 24. Revenue of $4.5 billion was 37 percent lower than last year’s fourth quarter. The mean estimate of sell-side analysts, according to data from Refinitiv, pointed to the electric-car maker losing $119 million on $5.2 billion of revenue.
On April 22 Chief Executive Elon Musk outlined his plan to have 1 million autonomous-capable Tesla vehicles on the roads by the middle of next year. He also predicted the company will be producing 10,000 cars a week by the end of 2019 and will in 2020 add both the Model Y and the Semi truck to its line-up.
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