An even bigger one than in Q1, actually. Tesla reported a net loss for the second quarter of $26.1 million, compared to $23.8 million in Q1. Tesla says it lost more money in the last three months because it is spending more on research and development, as well as on global expansion.
With revenues second quarter of $28.4 million (up 36 percent from Q1) and a gross margin of 22 percent (up from 19 percent in Q1), Tesla's management is proud though.
“We are very pleased to report higher gross margins and steady top-line growth, driven by our best quarter for new Roadster orders since the third quarter of 2008 and our growing powertrain activities,” Elon Musk, Tesla Motors CEO said in a statement.
“The Roadster is showing the world that it is possible to drive a beautifully designed, high-performance electric vehicle, underscoring Tesla’s technology leadership position.”
Taking advantage of the occasion, Tesla updated the world with its progress in the development of the Model S. According to the manufacturer, external design of the Model S has been finalized, meaning design guidelines have been sent to suppliers.
Tesla also managed to source the 17 inch touch screen, instrument panel, seating, mechanical restraints, lighting systems, suspension, brakes, cells, HVAC, wheels and tires that will go into the Model S.
“The engineering of the Model S continues at a rapid pace. We have completed the design of the Model S to a level of precision sufficient for us to release the CAD data to external suppliers. Laboratory testing of prototype powertrain components for the Model S has also been kicked-off,” Musk announced.
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