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Tesla sticks by Model 3 target, warns spending could rise in 2018

Its long-term viability depends on annually selling billions of dollars of the car that starts at US$35,000

Mr Musk has reiterated a bold goal to produce one million vehicles annually by 2020, with plans to make capital investments related to the upcoming Model Y SUV towards the end of this year.

San Francisco

TESLA Inc said on Wednesday it was sticking with chief executive Elon Musk's revised production targets for its Model 3 sedan, cheering investors who have put up with two delays, but the electric carmaker's plans to raise spending this year underscored its growing need for

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