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China's developing rocket more powerful than Falcon Heavy

China's developing rocket more powerful than Falcon Heavy

Tesla, which lost $121 million in the same quarter a year ago, said revenue was up 36 per cent over the same period in 2016 because of the deliveries it made of the luxury electric Model S sedan and Model X crossover. On Wednesday, Musk reiterated Tesla's most recent guidance, saying Tesla plans to be making 10,000 Model 3s per month by the end of the first quarter and 20,000 per month by the end of the second quarter.

According to Musk, "anything boring is terrible" so he made a decision to ensure that the rocket was fuelled with creativity, fitting it with an exposed cherry red Tesla Roadster, ready to blast "Space Oddity" on an endless loop.

Though the galaxys most famous auto is now headed to the asteroid belt, the launch of the Earths most powerful operational rocket from the Kennedy Space Center last week was still a resounding success.

Part of Tesla's goal is to build a system that's robust and more generally useful.

However, the Tesla won't make it to the asteroid belt as SpaceX CEO Elon Musk previously claimed. "Those titanium grid fins [on the Falcon side boosters] are super expensive and the production is very slow - we need them back".

The company's development of the Falcon 9 rocket, with nine engines, had given Musk confidence that SpaceX could scale up to 27 engines in flight, and he believed this was a better overall solution for the thrust needed to escape Earth's gravity.

At a post-mission press conference, Musk said his company is now focusing its engineering might on the next project, the Big Falcon Rocket, or BFR.

However, this achievement will require Tesla's Model 3 production ramp to go as planned.

Much attention from analysts and the public has been focused on the Model 3.

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FILE PHOTO: A Tesla Motors Model X electric sports-utility vehicle opens its falcon wing doors on stage during a presentation in Fremont, California September 29, 2015.

Tesla's total revenue for 2017 was $11.8 billion, which was also in line with analysts' forecasts.

The company expects revenue to be even higher in 2018 as it rolls out its highly anticipated Model 3. Tesla also recently disclosed that it didn't test any autonomous cars on California's public roads previous year, even as Waymo churned up more than 352,000 miles.

"Perhaps I'm wrong, in which case I'll look like a fool", he said.

Tesla Inc. hasn't thrown its plan to demonstrate an autonomous cross-country drive out the window - it's just tapped the brakes.

In the middle of his earnings call with investors Wednesday, Musk also announced that the company's sales and service chief, Jon McNeill, had left the company.

Robert Bigelow, president of Bigelow Aerospace, said: "Our lunar depot plan is a strong complement to other plans meant to eventually put people on Mars". The Roadster image will get people around the world excited. All that costs money, which Tesla is burning through at a fast clip.

The BFR could be ready for a test flight in about three or four years, Musk said.

The company reported a whopping $675.4 million net loss for the final quarter of 2017 and a $1.96 billion deficit for the year, the most ever on both counts.


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