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Tesla delays Model 3 production target

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Scott Mayle
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Electric carmaker Tesla pushed back targets for its new Model 3 car, admitting it's months behind schedule.

Tesla said it would now produce 5,000 of the cars each week by early 2018, instead of December.

The new target emerged as Tesla posted its biggest quarterly loss ever, sending its shares down more than 5% in after-hours trading.

Tesla made net losses of $619m (£468m) in the three months to 30 September, nearly double the previous quarter.

A year earlier, the firm made a profit of $21.9m.

The losses were bigger than usual because Tesla has been focused on ramping up production of its Model 3 sedan.

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Scott Mayle
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