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Tesla posts better than expected revenue in Q2

03 Août 2017

Tesla said 518,000 people have put down $1,000 deposits for the auto since March 2016, but he didn't seem concerned that 63,000 of those customers have pulled out. Tesla blamed a shortfall in batteries for the slower pace in the second quarter.

Those first installations have gone to employees who the company chose "to help flawless all aspects of Solar Roof customer experience".

"We have a lot of work to do (as) we address issues of how to fix India", Shanks said. "This is version one". "I think the release that should go out soon, people will be really pleased with it". At the event last week, Tesla CEO Elon Musk said the reservation number was over 500,000.

This file image provided by Tesla Motors shows the Tesla Model 3 sedan.

This is in contrast to Musk's comments from the first quarter earnings call in March, where he said that the Model Y production line would be "nothing close to anything".

Investors however, seem undeterred. "It is a very challenging technical task to get this right, to get the costs right, to streamline the installation process", notes Musk.

Tesla is now building pilot solar roof products at its factory in Fremont, California.

The electric-automaker and overall revolutionary, Tesla, managed to score a strong revenue growth in the previous quarter; the company's quarter reported a strong increase in their deliveries by a whopping 53% compared to 2016's second quarter. "We expect to keep the majority of our production in the USA, but it obviously makes sense to establish a Gigafactory in China and Europe to serve the markets there because it's nuts to build cars in California and then ship them halfway around the world", Musk said.

Tesla Inc says demand picking up. The solar roof is meant to compete on aesthetics by resembling slate, tuscan, and glass tiles. You can't click on everything at time of writing, but it gives us our best look yet at the only screen you'll find in the Model 3.

While the product is still not widely available, Tesla is still deploying regular solar panels where it makes sense.

Tesla Inc. (NASDAQ:TSLA) posted its quarterly earnings data on Wednesday. Those problems have been resolved, the company has said. The company will also receive additional investments from Tesla's partner, Panasonic.

Tesla said that its solar business will "be impacted over the short-term" but is expected to "resume growing in Q4 compared to Q3".

Most notably, Tesla revealed in its letter to shareholders that it has begun installing its long-awaited Solar Roof product - but so far only on a pilot basis, on the homes its employees, as it works out the kinks in the product.

Peter and Lyndon Rive, the brothers who cofounded SolarCity, left Tesla a few months after the acquisition.

Tesla expects to manufacture 5000 Model 3 cars a week by the end of 2017 and later plans to expand the production to 10,000 cars per week by 2018.

The company reported revenue of nearly $2.8bn (£2.1) in the three months to 30 June, up from $1.3bn during the same period past year, reports The BBC.

Tesla posts better than expected revenue in Q2