For Tesla Motors Inc., the Model X cannot come soon enough.The electric vehicle manufacturer’s net losses more than tripled to $154 million in the first quarter of 2015 as the company expanded into energy-storage batteries and invested in factory tooling for the Model X crossover’s third-quarter launch.
Tesla reported $940 million in fourth-quarter revenue, up 51 percent from the first quarter of 2014. Measured using Tesla’s preferred non-GAAP accounting methods, first-quarter revenue rose 55 percent to $1.1 billion.
Thousands of customers have placed $5,000 deposits on the Model X, which features a dual-motor all-wheel-drive system and “falcon wing” doors that rise vertically for easy entry.
Speaking to analysts Wednesday, Tesla CEO Elon Musk said Tesla plans to let these customers configure their cars online starting in July.
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