A salesrep (L) helps a customer pre-order the as yet unseen Tesla Model 3, in the Tesla store on the Third Street Promenade in Santa Monica, California, on March 31, 2016. / AFP PHOTO / ROBYN BECK
Tesla Motors Inc said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but warned that spending will ramp up in tandem.
The company, which three months ago aimed to make a net profit in the final quarter of this year, gave no profit target on May 4 and said capital spending would rise about 50% more than previously forecast this year, to around US$2.25bil (RM9bil).
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