Tesla adds 'Party & Camper mode' to Model 3, S and X

Tesla is now the king of the mid-range cars

Tesla's second-quarter revenue grew by more than $1 billion as the electric auto maker delivered more Model 3 vehicles, but its net loss still rose dramatically as it ramped up production.

Tesla said it would build up to 55,000 Model 3s in the current quarter at a positive gross margin, buoying hopes that the electric vehicle maker led by Elon Musk will meet its goal of profitability and positive cash flow in 2018, as it strives to recover from manufacturing challenges. On an adjusted basis, Tesla lost $3.06 per share, missing the consensus estimate of $2.92. Tesla estimates that it will produce between 50,000 and 55,000 Model 3s in the third quarter, almost double what it built this past quarter. The call triggered a stock sell-off and raised questions about Musk's behavior. Tesla said its capital expenses would be slightly below $2.5 billion in 2018, less than last year's $3.4 billion. Analysts expected a loss of $2.92 per share on revenue of $3.92 billion.

Tesla shares were up 5 per cent at $316.45 in after-market trading on Wednesday. Tesla has also asked parts suppliers for refunds. Musk also took time durin.

The company began to burn through money as it attempted to reach its production milestone of 5,000 Model 3's a week.

"No production target is more important than sustained quality, which is why every vehicle we produce goes through a thorough set of measurements and tests before it reaches the customer", it said.

A Madrid 1 - 1 Arsenal - Match Report & Highlights
For me, I want him to stay with us, to work with us, to give the team the big performances with his quality. Aaron has the condition to be one of the captains".

Tesla had to put some Model 3 production in a tent outside its Fremont facility, but it was necessary at the time to hit that all-important production goal of 5,000 Model 3s per week.

Tesla is one of a few automakers developing self-driving technology, but it stands apart because it's been developing its own silicon for performing artificial-intelligence computations, rather than continuing to rely on systems from ongoing chipmakers like Nvidia (NVDA).

The Palo Alto, California, company said it lost $US4.22 per share from April through June as revenue grew 43 per cent to just over $US4 billion. There's "no excuse for bad manners", Musk said.

Tesla's website describes upcoming features - including the ability for a vehicle to change lanes without driver input, move from one freeway to another, and exit a freeway near the driver's destination - that are not available in Autopilot's current iteration. Tesla has never posted an annual profit and has only had two profitable quarters since going public in 2010.

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