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

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Meet Maryana Iskander, on a mission to find employment for 1st-time job seekers

Meet Maryana Iskander, on a mission to find employment for 1st-time job seekers

Bruce Whitfield interviews Iskander to learn about her non-profit company that partners with South African employers.

5 reasons why online shopping is going hybrid (online and in the ‘real world’)

5 reasons why online shopping is going hybrid (online and in the ‘real world’)

The Money Show’s Bruce Whitfield interviews Yuppiechef cofounder Andrew Smith.

Tiny South African aluminium company the sole supplier of vital Tesla component

Tiny South African aluminium company the sole supplier of vital Tesla component

How Pietermaritzburg based Hulamin became Elon Musk’s only supplier of an essential component of all Tesla cars.

How SA born and raised Elon Musk is shaping YOUR future (and everybody else’s)

How SA born and raised Elon Musk is shaping YOUR future (and everybody else’s)

We interview the author of a famous book on the Pretoria Boys High graduate who is changing the world (and space beyond) forever.

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.

We won’t need Eskom forever (or for long!) thanks to SA born Elon Musk

We won’t need Eskom forever (or for long!) thanks to SA born Elon Musk

Musk’s new electricity storage system may soon free us from depending on Eskom (or anyone but ourselves) for electricity.

Popular articles
Opinion:  Bishop Lekganyane is right

Opinion: Bishop Lekganyane is right

Stephen Grootes weighs in on comments made by the Zion Christian Church Bishop at the weekend.

SAB urges public to stop abusing free water at Newlands Spring

SAB urges public to stop abusing free water at Newlands Spring

There have been several reports of abuse of the facility, with a number of people tapping far more water than is allowed.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?