Tesla third-quarter loss doubles to $75 million

Tesla Motors Inc Chief Executive Elon Musk poses with a Tesla Model S electric car in Tokyo September 8, 2014.   REUTERS/Toru Hanai
Tesla Motors Inc Chief Executive Elon Musk poses with a Tesla Model S electric car in Tokyo September 8, 2014. REUTERS/Toru Hanai

(Reuters) – Electric car maker Tesla Motors Inc (TSLA.O) said its third-quarter loss nearly doubled from a year ago to $75 million, as manufacturing, sales and development expenses increased to meet rising demand.

Revenue doubled to $852 million. The company delivered a record 7,785 Model S sedans in the quarter, most of them in North America.

Research and development spending climbed as Tesla added a new dual-motor version of the Model S and readied the Model X crossover for production in early 2015.

Tesla shares were up nearly 5 percent at $241.55 in after-market trading after closing on Wednesday at $230.97 per share.