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.
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In the already impoverished Gaza Strip, residents have learned to adapt to the fact that electricity is only available for between two and four hours a day.
But fresh anger was sparked when availability was cut further last month, at the request of the Palestinian president, Mahmoud Abbas, in an escalation of his conflict with Hamas, the Islamist group.
The shortages have defined how people live their lives: getting up in the middle of…
