Tesla says Model 3 on track for volume production by September

← Homepage

Tesla Inc (TSLA. O) posted a smaller quarterly loss and said its mass-market Model 3 sedan was on track for volume production by September. The company's net loss attributable to common shareholders narrowed to $121.3 million, or 78 cents per share, for the fourth quarter ended Dec. 31 from $320.4 million, or $2.44 per share, a year earlier. Tesla, which is led by billionaire entrepreneur Elon Musk, said revenue rose 88 percent to $2.28 billion.

The company is betting big on Model 3 to help it meet its goal of producing 500,000 cars annually in 2018.

Tesla down ahead of first quarterly report to include SolarCity SAN FRANCISCO Shares of Tesla were down almost 1 percent on Wednesday ahead of the electric car maker's first quarterly report following its $2.6 billion acquisition of solar panel installer SolarCity.

British, Canadian regulators agree to assist fintechs TORONTO British and Canadian regulators have signed an agreement to make it easier for financial technology companies to expand in each other's markets, they said on Wednesday.

Dorsey's Square reports 20.7 percent jump in quarterly revenue Square Inc , the mobile payments company co-founded and run by Twitter Inc Chief Executive Jack Dorsey, reported a 20.7 percent jump in quarterly revenue as it processed more payments.