tesla-motors

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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 Rory Carroll NORTH LAS VEGAS, Nev. (Reuters) – A car-sized sled powered by electromagnets rocketed to more than 100 miles (160 kph) an hour through the Nevada desert on Wednesday in what the Los Angeles company developing the technology said was the first successful test of a futurist transit system called hyperloop. Hyperloop One is among several companies competing to bring to life a technical vision by Elon Musk, the founder of rocket maker SpaceX and electric car company Tesla Motors, who suggested sending pods holding passengers and cargo inside giant vacuum tubes between Los Angeles and San Francisco.

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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 Edward Taylor and Eric Auchard FRANKFURT (Reuters) – Technology giant Apple is learning how to make a self-driving electric car and is talking to experts at carmakers and automotive suppliers, an automotive source familiar with the talks said on Saturday.     The Cupertino, California-based maker of phones, computers and watches is exploring how to make an entire vehicle, not just designing automotive software or individual components, the source said. Apple is gathering advice on parts and production methods, the source said, adding that Apple appeared not to be interested in combustion engine technology or conventional manufacturing methods. Rival software maker Google has developed a prototype self-driving vehicle, while startup rival Tesla Motors has produced a successful electric sports car. In addition to building a car, there is money to be made from the software operating system for a self-driving vehicle, as well as the services associated with autonomous driving, such as high-definition mapping, car-sharing and electric car recharging services, the auto industry source said.