(MENAFN) Tesla, luxury electric car maker, said it was on track to deliver 55,000 units this year despite expanding losses on accelerated research spending, The Peninsula Qatar reported.
The company produced some 11,160 Model S cars in the January-March period of 2015 and expected to begin delivering the long-awaited Model X late in the third quarter of the year.
The Silicon Valley automaker reported a first-quarter loss of USD154 million compared with a USD108 million losses registered a year ago. The loss was less than analysts expected.
Revenues fell 1.7 percent to USD940 million, mainly on a drop in income from services. While research and development expenses surged by more than USD28 million due to more ambitious battery projects.
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