Tesla Advances 500,000 Unit Production Plan to 2018

Markets Reuters

Tesla Motors Inc said on Wednesday it was on track to deliver 80,000 to 90,000 electric vehicles this year and that it would be produce 500,000 vehicles in 2018, two years faster than expected.

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Tesla, controlled and run by technology entrepreneur Elon Musk, said its net loss widened to $282.3 million, or $2.13 per share, in the first quarter ended March 31, from $154.2 million, or $1.22 per share, a year earlier.

Revenue rose to $1.15 billion from $939.9 million. (http://bit.ly/1rVkm03) (Reporting by Kshitiz Goliya in Bengaluru; Editing by Ted Kerr)