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

Find an Autocar car review

Driven this week

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week