Tesla has reported a second-quarter loss of $38.5 million
5 August 2010

Tesla has reported a second-quarter loss of $38.5 million (£24.3m), continuing the electric car company’s unprofitability since being founded in 2003.

The California based company has announced that losses will continue until their $57,000 (£36,000) mass produced Model-S is built in 2012.

Read about Tesla’s deal with Toyota

At present Tesla continues to only produce its $109,000 (£68,750) electric roadster and sell lithium-ion battery packs to Daimler for its Smart Minicars.

The company has recently signed a deal with Toyota, which includes plans for a Rav-4 electric sport utility vehicle.

Read Autocar's first drive of the Tesla Roadster

Tesla, which is currently dipping into funds from public as well as private investment for the Model-S, has announced that development costs are within its $400 million (£252m) budget.See all the latest Tesla reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Range Rover Sport SVR
    First Drive
    22 March 2018
    More power and an intoxicating soundtrack have breathed new life into our love affair with the biggest, baddest Range Rover Sport variant
  • First Drive
    21 March 2018
    The new Vantage has been developed as a Porsche 911 beater, and our first taste on UK roads suggests it can live up to that bold claim
  • Nissan Leaf Tekna
    The is the new Nissan Leaf
    First Drive
    21 March 2018
    The new version of the world's best-selling electric car gains a bigger battery and more power. How does it compare to rivals such as the Volkswagen e-Golf?
  • Range Rover p400e
    First Drive
    20 March 2018
    The original luxury SUV is now available as a plug-in hybrid, promising lower emissions and the capacity for silent electric motoring
  • BMW i3s
    Car review
    20 March 2018
    Revised hatchback sets out its range-extended electric stall in a new, sportier tune