Tesla Motors Inc. announced its fourth-quarter financial results today and reported a net loss that widened to $81.5 million as it ends sales of the electric Roadster sports car ahead of the release of its Model S sedan.
The net loss compares to a $51.4 million deficit a fiscal year earlier. Tesla said that its fourth-quarter revenue rose to $39.4 million from $36.3 million a year ago.
Until the company starts making money from the Tesla Model S sedan, which goes on sale this year, it will rely solely on battery packs and other components to Toyota and Daimler AG.
– By: Omar Rana