Tesla reports $702m quarterly loss

Tesla reported a loss of $702m for the first three months of the year and predicted another loss for the three months after.

 

The electric car and battery maker said it would return to profit in the third quarter.

 

The firm said it still plans to deliver 360,000 to 400,000 vehicles in 2019.

 

Tesla chief executive Elon Musk said he expected the firm to have self-driving "robotaxis" on the road by 2020. Mr Musk told investors he expected regulators to approve ride-hailing in some areas for autonomous vehicles. He added: "I feel very confident in predicting autonomous robotaxis next year."