Tesla reports record car deliveries

Tesla reports record car deliveries

In a record quarter, Tesla delivered just over 25,000 cars in the first three months of the year.

The electric car maker said that was a 70% rise on the same period of 2016.

It is a rebound for the US company after production problems late last year resulted in a 9% fall in deliveries in the fourth quarter.

Tesla was founded in 2003 and is controlled by entrepreneur Elon Musk, who also owns the space rocket firm, SpaceX.

Last week China's Tencent Holdings bought a 5% stake in Tesla for almost $1.8bn.


That was a boost for the company which has been investing heavily in raising production and faces an expensive year, with the launch of the new Model 3.

It is a medium-sized car which Tesla describes as its "most affordable" car yet and it hopes will have mass market appeal.

The Model 3 is due to go on sale in the US this year priced at $35,000 (?28,000).

That would be significantly cheaper than Tesla's current models - the Model X, an SUV, and the Model S, a sporty saloon, both priced at more than $70,000 (?56,000).

In the first quarter Tesla delivered 13,450 Model S cars and 11,550 of the Model X.



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