Elon Musk’s lossmaking Tesla to produce 500 000 cars in 2018

Tesla Motors says it is on track to produce 500 000 vehicles in 2018.

This is two years earlier than expected.

On Wednesday, South African American Elon Musk’s company reported a 1Q/2016 loss of $282 million, up from $154m last year.

Ray White interviewed Mark Smyth, Motor News supplement Editor in The Business Day on The Money Show.

Scroll down for quotes from the audio below.

Tesla’s share price is plummeting.

Mark Smyth

Elon Musk is breaking his promises.

Mark Smyth

There is no doubt that electrical cars are the future.

Mark Smyth

The Netherlands wants all internal combustion engines off its roads by 2025.

Mark Smyth

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