Elon Musk banks on his self-driving taxi service as Tesla burns through cash
Tesla's robo-taxis are needed more than ever.
The company lost $702 million in the first three months of the year and the EV maker doesn't expect to be profitable again until the second half of the year, according to first quarter earnings results reported Wednesday. Revenue was lower than expected at $4.5 billion.
CEO Elon Musk had braced for a losing quarter back in February when he announced the $35,000 base price for the Model 3, but he still sounded disappointed on Wednesday's investor call to discuss the sluggish numbers.
"The brand is losing steam," Jessica Caldwell, executive director of industry analysis at Edmunds, said in an email. Read more...
More about Tesla, Elon Musk, Earnings, Model 3, and Electric Vehicles
COntributer : Mashable http://bit.ly/2ViGT9a
Elon Musk banks on his self-driving taxi service as Tesla burns through cash
Reviewed by mimisabreena
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Thursday, April 25, 2019
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Reviewed by mimisabreena
on
Thursday, April 25, 2019
Rating:
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