Losses at Tesla widened in the first three months of the year as it increased spending before the launch of the Model 3, its first mass-market car. It unveiled a first-quarter $330 million loss last night, up from $282 million a year ago. Revenue climbed from $1.1 billion to $2.7 billion, however, was slightly ahead of expectations. Tesla overtook General Motors as America’s most highly valued carmaker on April 10 this year, having passed Ford earlier in the month. The electric vehicle specialist was worth about $51.5 billion last night, General Motors $49.1 billion and Ford $42.2 billion.

Source: The Times May 03, 2017 22:52 UTC