Despite record deliveries, Automaker Tesla recorded a larger loss in the second quarter than expected. After a few profitable quarters at the end of 2018, Tesla again made a quarterly loss this year.
In the second quarter, a net loss of more than 400 million dollars (359 million euros) was recorded. CEO Elon Musk now expects the group to be profitable in the fourth quarter of 2019. The automaker should break even in the current third quarter.
Tesla also announced that the pioneer of Tesla’s batteries, Jeffrey Straubel, will resign as technical director and continue as a consultant for the company.
Investors seemed unable to appreciate this announcement and the results. The share was 11.5 percent lower in the after market.
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