Elon Musk appeared “suddenly in deep hell»


Photo: Vladimir Song / RIA Novosti

The electric car manufacturer Tesla has received 675 million dollars of losses in the fourth quarter of 2017, CEO Elon Musk acknowledged the plight, according to CNN.

“We are deeper in hell than expected,” he said during a conference call with analysts. The company encountered difficulties with the production of batteries for electric vehicles, the Model 3, Musk said. But Tesla will be released on the stated capacity of five thousand cars every week in the second quarter, said the businessman.

Despite the quarterly loss was the biggest in the history of the Corporation, financial results, Tesla was better than analysts ‘ forecasts. Quotations of the company’s shares this information is almost not affected. The annual loss of the automaker, as stated in the financial report amounted to almost $ 2 billion.

In the third quarter of last year the company losses amounted to 671 million dollars. In the fourth quarter of 2016, the loss amounted to $ 121 million.

In January, Musk lost his guaranteed salary and will now receive compensation in the form of shares of the company depending on the growth of its capitalization.

Tesla positions the Model 3 as a mass-market car, the cost starts from 35 thousand dollars, while the Model S costs from 75 thousand to 100 thousand dollars, Model X — 80 thousand.

Video, photo All from Russia.


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