Tesla says it’s still cook­ing with­out gas

Sunday Times - - Business Opinion & Bits -

Tesla re­ported that it lost less money than the mar­ket ex­pected and said it was mak­ing progress ramp­ing up pro­duc­tion of Model 3 elec­tric cars.

Shares rose briefly be­fore div­ing about 5% af­ter an earn­ings call dur­ing which CEO Elon Musk dis­missed as “bor­ing” some ques­tions about money. The com­pany re­ported net losses of $784.6-mil­lion (about R10-bil­lion) on rev­enue of $3.4-bil­lion in the first quar­ter.

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