Yes, yes. You have to spend money to make money and you can't make an omlet without cracking a few eggs, but just weeks after Panasonic invests $30 M into Tesla in a battery deal, the California-based electric car maker has just posted a $35 M loss.

This is $30.3 MILLION dollars more than they lost a year ago, and the reason is mostly due to investment in the Model S sedan. R&D spending was up to $26.7 M this quarter vs. $1.3 M the year before.

In a conference call, CEO Elon Musk said that short-term profitability "is not a particularly meaningful goal because we're spending on the order of half a billion dollars over the next nine quarters. So you can expect to see some evenhandedly significant expenses there. It's really the only way to execute the business given that we're going from roughly 600 units a year to roughly 20,000 units a year."

Revenue this quarter has fallen 31.4% to $31.2 M

( AutoNews )