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Tesla posts 13th straight quarterly loss, eyes more stores

Published Thu, Aug 4, 2016 · 09:50 PM
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San Francisco

TESLA Motors Inc reported a steeper than expected quarterly loss on Wednesday on higher spending at its vehicle and battery factories, even as the company said it planned to accelerate store openings around the world.

The 13th straight quarterly loss for the Silicon Valley electric carmaker underscores the financial hurdles that hamper it while it takes on increasingly ambitious goals - a 10-fold ramp up of vehicle production in three years and the recent plan to acquire solar panel installer SolarCity Corp.

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