Record electric vehicle sales in the fourth quarter helped to push Tesla Inc. to its second-straight quarterly profit, giving bullish investors optimism that sustained black ink lies ahead.
The Palo Alto, California, company said it made a $105 million net profit from October through December, or 56 cents per share, but still posted an annual loss of $862 million.
The Model Y will be able to go up to 315 miles per charge, an increase over Tesla's previous estimate of 280 miles , according to the letter. Last year, Musk said he expected to start converting Teslas to self-driving in 2020 as part of a plan to create a network of robotic taxis to compete against ride-hailing services.
The company hasn't seen any parts-supply disruptions due to the outbreak but is monitoring the situation, he said. "This is an evolving story." Tesla expects net profits going forward, with some possible exceptions at times surrounding the launch of new products.Tesla shares have more than tripled in value since May of last year, pushing the company's market value above giant German automaker Volkswagen as well as the combined values of General Motors and Ford.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Christine Sinclair sets goal record in Canada's Olympic qualifier win - TSN.caChristine Sinclair scored twice to pass Abby Wambach for the international goals record among both men and women, and Canada defeated Saint Kitts and Nevis 11-0 on Wednesday in the CONCACAF Women's Olympic Qualifying tournament.
Read more »
Care access up in Canada but electronic medical-record use lags behindFamily doctors in Canada are providing increased access to care compared with most of their counterparts in 10 other countries but still lag behind when it comes to using electronic medical records, findings of a survey show.
Read more »
Maple Leafs set franchise road-scoring record as they top Stars 5-3Maple Leafs set franchise road-scoring record as they top Stars 5-3 Globe_Sports
Read more »
Must See: Lowry sets Raptors' all-time assists recordKyle Lowry picks up assists on back-to-back possessions for the Raptors to pass Jose Calderon and set the new franchise record in assists with 3,772 and counting.
Read more »
U.S. core capital goods orders record largest drop in eight monthsThe data suggest business investment contracted further in the fourth quarter and was a drag on economic growth
Read more »