Tesla’s still losing money despite a record quarter for deliveries

Photo by Sean O’Kane / The Verge

Tesla made and delivered more cars in the second quarter of 2019 than it did in any other quarter in company history, but still lost $408 million, according to a new filing with the Securities and Exchange Commission. That’s an improvement over the unexpectedly big $702 million loss Tesla posted in the first quarter of 2019, but it means the Model 3 is still not successful enough to lift the company out of the red for good.
Tesla also announced that longtime chief technology officer JB Straubel is stepping down after serving in the role for some 15 years. “I’d like to thank JB for his fundamental role in creating and enabling Tesla,” CEO Elon Musk said on a call with analysts Wednesday evening. “If we hadn’t had lunch in 2003, Tesla…

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