Tesla Motors posts a bigger loss, and two key executives plan to leave
- 8 years ago
Tesla Motors Inc. reported a larger first-quarter loss compared with a year ago Wednesday, but the report nearly was overshadowed by the planned departure of two of the company's key manufacturing executives.
The electric car maker also said it has ramped up production of its new Model X sport utility vehicle, whose prior delays contributed to the financial losses.
Tesla's first-quarter loss using standard generally accepted accounting rules was $282.3 million, compared with a loss of $154.2 million a year earlier.
Earlier in the day, Tesla confirmed that Greg Reichow, its vice president of production, and Josh Ensign, vice president of manufacturing, were leaving the Palo Alto company.
The electric car maker also said it has ramped up production of its new Model X sport utility vehicle, whose prior delays contributed to the financial losses.
Tesla's first-quarter loss using standard generally accepted accounting rules was $282.3 million, compared with a loss of $154.2 million a year earlier.
Earlier in the day, Tesla confirmed that Greg Reichow, its vice president of production, and Josh Ensign, vice president of manufacturing, were leaving the Palo Alto company.