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Tesla says Model 3 on track for volume production by Sept
February 22, 2017 / 9:15 PM / 7 months ago

Tesla says Model 3 on track for volume production by Sept

Feb 22 (Reuters) - Tesla Inc 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. bit.ly/2l9C0tI

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. (Reporting by Rishika Sadam in Bengaluru; Editing by Anil D‘Silva)

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