For all of its apparent success in disrupting the car industry, Tesla has only turned a profit for one three-month period since being founded in 2003. Owner Elon Musk previously told investors that Tesla would be in the black by the end of this year, but that might be tough because the company’s reported losses for the first quarter of 2015 totaled $154 million.
That’s a ton of cash by any measure, especially considering the company lost just $49.8 million in the same quarter last year, but there is a method to Tesla’s madness. The good news is revenue rose 51 percent to $940 million, and the second quarter is looking good. Production is projected to expand by 12 percent to 12,500 vehicles, and demand for the Model S remains strong.
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Tesla Reports $154 Million Loss In The First Quarter Of 2015 originally appeared on topspeed.com on Friday, 8 May 2015 17:00 EST.