Tesla learning lessons

Tesla has reported a loss of $675.4m in the three months to 31 December 2017, claiming it has ‘learned many lessons’ from its Model 3 production plans.

Despite the loss, Tesla reported an increase in revenues ($3.29bn) and said it was addressing the Model 3 production issues.

‘At some point in 2018, we expect to begin generating positive quarterly operating income on a sustained basis,’ Tesla said in a statement. It also claimed it would continue to target Model 3 production rates of 2,500 by the end of the first quarter this year, and 5,000 by the end of the second quarter.

However, it the statement added, ‘our prior experience on the Model 3 ramp has demonstrated the difficulty of accurately forecasting specific production rates at specific points in time.’