Tesla Motors posts a loss
The automaker known for a $109,000 Roadster, said its net loss widened to $34.9 million, or 38 cents per share, in the third quarter, from $4.6 million, or 66 cents per share, a year earlier. Revenue fell 31.4 percent to $31.2 million.
Tesla had previously said it expected to report losses until at least 2012. It expects to introduce the Model S sedan at a price of about $57,400 around the middle of 2012.
The carmaker said it is now testing a prototype powertrain for the Model S and expects to complete a test version of the vehicle by the end of the year.
Tesla, which completed an initial public offering in the summer, has agreed to act as a key supplier to Toyota Motor Corp for an electric Toyota RAV4.
Toyota holds a $50 million stake in Tesla and Panasonic Corp has agreed to invest $30 million.
Related News
Ukraine has electricity reserves, no more outages planned if no new strikes
KYIV - - Ukraine plans no more outages to ration electricity if there are no new strikes and has been able to amass some power reserves, the energy minister said on Saturday, after months of interruptions caused by Russian bombings.
"Electricity restrictions will not be introduced, provided there are no strikes by the Russian Federation on infrastructure facilities," Energy Minister Herman Halushchenko said in remarks posted on the ministry's Telegram messaging platform.
"Outages will only be used for repairs."
After multiple battlefield setbacks and scaling down its troop operation to Ukraine's east and south, Russia in October began bombing the country's energy infrastructure,…
