Tesla posts a Q4 loss but the company’s revenue grows amid acquisitions

Enlarge / This is what every Tesla driver wants to see upon arrival at a Supercharger station. (credit: Tesla)

On Wednesday, Tesla posted a Q4 2016 loss of $ 121.3 million, but the loss was narrower than the $ 320 million net loss from the year earlier. The company said it made $ 2.28 billion in revenue in the quarter, up from $ 1.24 billion in Q4 the year before. Tesla reported $ 7 billion in annual gross revenue in 2016.

Tesla said to be aiming to start test production of Model 3 on February 20

All that comes on the heels of a Q3 in which the company posted a rare profitable quarter that CEO Elon Musk called Tesla’s “best quarter ever.”

Elon Musk also said that unionization is unlikely to occur.

The company said its gross margin fell between the third and fourth quarters of 2016 due to lower Zero Emissions Vehicle credit sales in Q4 compared to the quarter before. In the last three months of the year, Tesla completed its acquisition of SolarCity as well as Grohmann Engineering, which will become Tesla Advanced Automation Germany.

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Ministry of Innovation – Ars Technica

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