. | . |
Tesla shares rev higher after update on profits, China by Staff Writers San Francisco (AFP) Oct 23, 2019 Tesla shares raced higher in after-hours trading after the company announced its factory in China had started production, while a quarterly update showed better-than expected financial results. Shares in Tesla climbed by as much as 15 percent after the electric carmaker said it posted a profit of $143 million -- despite analyst forecast for a loss -- on revenue of $5.4 billion in the third quarter ending September 30. Tesla said it is producing vehicles "on a trial basis" at its so-called Gigafactory in Shanghai, which will help boost global production and sales. "We are positioned to accelerate our growth further through Gigafactory Shanghai, Model Y and also through increasing build rates on our existing production lines," Tesla said in its letter to shareholders. The company has been dogged by concerns it may not be able to ramp up production to meet demand and that chief executive Elon Musk may have overstated Tesla's goals for sales and technology improvements. Musk has predicted the company may be able to deliver self-driving cars by 2020, though analysts are skeptical. The shareholder letter said Tesla expects to boost vehicle deliveries and that "we are highly confident in exceeding 360,000 deliveries this year." Tesla said deliveries of its Model 3, the most affordable vehicle in its lineup and a key to broader sales, reach 79.8 million in the past quarter, an increase of 50 percent compared to last year.
Hover-taxi whizzes over Singapore, firm eyes Asian push Singapore (AFP) Oct 22, 2019 A drone-like flying taxi whirred over Singapore's waterfront Tuesday, with the firm behind the test hoping the aircraft will revolutionise travel in traffic-choked Asian cities. The 18 propeller vehicle, developed by German firm Volocopter and with a pilot onboard during the test flight, took off from a promontory and flew for about two minutes and 30 seconds around the Marina Bay district. Heavy rains in the morning almost delayed the flight, but the skies cleared in time for the battery-operat ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |