Tesla Posts a Record Quarterly Loss of $619 Million USD

Elon Musk has been pushed to delay Model 3 manufacturing even further.

Automotive
7,325 Hypes 0 Comments

Tesla has revealed its largest quarterly loss thus far, confirming a net loss of $619.4 million USD and its delay in producing Model 3 by roughly three months. The electric automaker spent $1.1 billion USD in capital expenditures and paid an additional $325 million USD to repay a credit facility.

Elon Musk has been pushed to delay Model 3 manufacturing as it looks to rectify production bottlenecks. According to Reuters, Musk states the main reason behind the delay was its battery module assembly line at the Gigafactory. “I was really depressed about three or four weeks ago. We are on it, we’ve got it covered,” he said encouragingly.

Chime in below and take a first look at The Boring Company tunnel below LA.

Read Full Article
More

What to Read Next

Stüssy and Champion Reveal More Winter-Ready Pieces
Fashion

Stüssy and Champion Reveal More Winter-Ready Pieces

Including reversible sherpa fleece jackets.

Rihanna's Best Rap Songs Before "Lemon"
Music  

Rihanna's Best Rap Songs Before "Lemon"

Which one is your favorite?

UPDATE: Nike Air Max 97 "Volt" U.S. Release Date
Footwear

UPDATE: Nike Air Max 97 "Volt" U.S. Release Date

A chance to get your hands on the OG colorway.


Best Made Co. & Sleepy Jones Unite for Special Capsule Collection
Fashion

Best Made Co. & Sleepy Jones Unite for Special Capsule Collection

The finest loungewear out there.

colette and Holzweiler Team Up for Commemorative Hoodie
Fashion

colette and Holzweiler Team Up for Commemorative Hoodie

Holzweiler’s Hangon hoodie in colette’s signature blue.

Why Seoul, South Korea Is the Hottest Fashion City in Asia
Fashion  

Why Seoul, South Korea Is the Hottest Fashion City in Asia

“It began with K-pop, moved into K-beauty and now K-fashion is the next logical move.”

More ▾