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Friday, 06 May 2016 - 13:02
Tesla boosts mass market car production
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Tesla Motors says it is on track to produce 500 thousand vehicles in 2018, two years earlier than expected.

On Wednesday, the electric carmaker reported a first quarter loss of 282 million dollars up from 154 million dollars last year.

The loss was in line with investors' expectations, and the announcement that it was increasing production sent its shares up 4% in after-hours trading.

Tesla had been struggling to ramp up production of its cars including its newest Model X SUV.

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