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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 ten-fold ramp of vehicle production in three years and the recent plan to acquire solar panel installer SolarCity Corp . Tesla, led by entrepreneur Elon Musk, said it was still on track to deliver about 50,000 new Model S and Model X vehicles during the second half of 2016, and reiterated that it would spend $2.25 billion in capital expenditures in 2016 to prepare for its upcoming Model 3 sedan.

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By Alexandria Sage FREMONT, Calif. (Reuters) – Tesla Motors delivered the first of its long-awaited Model X electric sports-utility vehicles on Tuesday, a product investors are counting on to make the pioneering company profitable after years of losses. “I think we got a little carried away with the X,” Chief Executive Officer Elon Musk told reporters ahead of a launch event near the company's Fremont factory, where luxury Model Xs have been moving down the production line in recent weeks, nearly two years behind the company's original schedule. Invited to the event were Model X reservation holders, Tesla employees and Model S and Roadster owners.

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By Paul Lienert DETROIT (Reuters) – Global automakers are readying a new generation of mass-market electric cars with more than double the driving range of today’s Nissan Leaf, betting that technical breakthroughs by big battery suppliers such as LG Chem Ltd will jump-start demand and pull them abreast of Tesla Motors Inc. At least four major automakers — General Motors Co, Ford Motor Co, Nissan Motor Co Ltd and Volkswagen AG — plan to race Tesla to be first to field affordable electric vehicles that will travel up to 200 miles (322 km) between charges. The new generation of electric cars is expected to be on the market within two to three years.