Tesla plans to manufacture more cars as revenue rises

The firm now aims to focus on other markets like Europe and North America.

The revenue of Elon Musk's electric car company, Tesla, stood at USD 4 billion by June. It has grown by 43 percent compared to last year at the same time.

Tesla delivered more than 40,000 cars in three months which included 18,000 of Model 3 cars.

The company has been spreading widely and is striving hard to get its Model 3 cars in the hand of customers.

The firm has lost more than USD 717 billion in the quarter. The amount is double what it was last year.

It manufactured 5000 Model 3 sedans in a week and that too at multiple times. Tesla now aims to produce 50,000 to 55,000 cars in the coming quarter.

The sale is likely to have a negative impact due to the tariffs by China on the US made cars. The firm now aims to focus on other markets like Europe and North America.

Though, Tesla mulls to open a new factory in China with an estimated investment of USD 2 billion and would target to produce at least 250,000 cars per year.

In an effort to boost the bottom line of the firm, expenses are being cut.

Musk says that company's aim is to be profitable and cash-flow to be positive for every coming quarter.