Back to Earth: Tesla's losses grow with Model 3 delays

Colbert also joked that Elon Musk won the award for'Most Midlife Crisis

The much delayed, much maligned rocket is just what the space agency needs to escape from the governmental bureaucracy that has bound her to Low Earth Orbit for the past 45 years.

Musk says Tesla is closing in on its goal of producing a whopping 5,000 Model 3 sedans per week. Tesla reported a quarterly loss of $771 million on $3.3 billion in revenue.

He also explained that the company could have done the coast-to-coast drive a year ago but it would have had to so with a lot of custom code which would have essentially seen Tesla "gaming" the demonstration. Delivery of the Model 3 has started end of 2017 in the US.

While brand awareness for Tesla is high among "affluent, environmentally-concerned luxury auto buyers", Adamson said, Musk continues to burn through money attempting to mass produce the vehicles.

"If we can send a Roadster to the asteroid belt, we can probably solve Model 3 production".

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Apart from the financial performance, analysts were closely watching Tesla's Q4 figures for updates on the Model 3 production rate after bottlenecks significantly hampered the company's aggressive production plans for its first mass-market vehicle.

That said, the Model 3 assembly line is nearly completely automated for the first time.

Tesla's adjusted fourth-quarter loss of $3.04 per share was ahead of Wall Street's estimated loss of $3.15 per share, according to analysts polled by FactSet. The package requires Tesla, which is worth a little less than $60 billion now, to grow in $50 billion leaps to a staggering $650 billion market capitalization over the next decade.

"That seemed extremely boring", said Musk of settling for concrete or steel blocks. "We expect energy generation and storage gross margin to improve significantly in 2018 as we enter the year with a backlog of higher-margin commercial solar projects and a more profitable energy storage business due to manufacturing efficiencies from scaling".

"Jon is a world-class leader who brings deep experience as a highly successful entrepreneur and executive", Lyft CEO Logan Green said in an emailed statement. Musk reportedly said his rocket is a game-changer in terms of profitability.

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