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Tesla to Build 100,000 Cars Next Year

Nearly doubled revenue from 2013.

In his letter to shareholders Thursday, founder Elon Musk declared that Tesla Motors will be sending out more than 100,000 cars per year by the end of 2015. He also announced that the company’s reported revenue was $769 million for the second quarter, up from $405 million from the same period the previous year. However, the company’s net loss also grew—to $62 million from $32 million, due to spending on charging stations, service centers, and the development of the Model X SUV. Musk also announced that the company is working with ore suppliers in yet another example of his firm belief that outsourcing does not save companies money. Most big auto companies use parts made by other companies for their cars.