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Tesla Motors Inc. reported record sales of its Model S electric car in the fourth quarter of 2013, but posted a net loss of $16 million for the quarter, the Palo Alto-based company reported on Wednesday.
The electric car company increased its revenue in the fourth quarter to $615 million, up 43 per cent from the 3rd quarter.
The company says it delivered more than 22,000 Model S vehicles in 2013, and a record 6,892 in the fourth quarter alone, resulting in over $2 billion in sales for the year.
This year Tesla expects to sell more than 35,000 Model S cars.
The first Model S deliveries to China are scheduled for this spring.
Tesla says it plans to make substantial investments in China, adding new stores, service centres and a Supercharger network.
Tesla share prices rose 15 per cent in after-hours trading after earnings were announced.
The report comes a day after Tesla held talks with Apple, fuelling discussion of a possible merger.
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