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Tesla revenues double but losses also grow

Electric car-maker Tesla quarterly revenues have more than doubled helped by higher deliveries of its upmarket vehicles but its losses also grew.

Production of the "affordable" ($35,000) car being on schedule is critical to the company's future - perhaps even the future of Mr Musk himself as he seeks to court even more money for outlandish projects.

That's why Tesla burned through over $1bn in the last quarter, as analysts had anticipated.

There are half a million pre-orders for the Model 3, and Mr Musk said the company is facing "manufacturing hell" to get them all made.

According to the latest projections, Tesla thinks it's on course to keep customers happy. Any wavering on that goal would send the stock price south. For now, things are on track.