As a result, electric car company reported a net loss of £548 million ($717.5 million) for its latest financial quarter, despite cranking out more vehicles than ever before. However, investors were buoyed by the news that Tesla still holds £1.6 billion ($2.2 billion) in cash reserves -- enough to keep building cars without borrowing more. CEO Elon Musk also pledged to post a profit later this year, as he set the firm the ambitious new goal of producing 10,000 Model 3s each week by next year. Tesla has cut back on capital spending by changing its strategy to produce the sedan on existing assembly lines – one of which is protected from the elements using a giant tent outside the factory – rather than adding all-new lines. Shares jumped 9.3 per cent to £328.85 ($328.85) in after-hours trading.
Microsoft just showed off all of its new games for PC and Xbox One at its E3 Press Conference. There's a lot to unpack, so scroll through our live coverage below to watch all the trailers and see all the new announcements You can also re-watch the entire thing, if you like, and follow along with our commentary and insights below. We'll be back for Sony's press conference tomorrow night! 'A few very exciting games shown, and interesting to see how Xbox's newly acquired studios will fare' Well that certainly had a lot more going for it than the EA press conference. Trailers upon trailers upon gameplay demos, and new reveals all over the place.
Google-owned Waymo is adding as many as 62,000 Fiat Chrysler minivans to its autonomous fleet in an expanded collaboration announced by the companies on Thursday. Delivery of the Chrysler Pacifica minivans was expected to begin later this year, with the automaker also exploring the potential to build Waymo technology into a self-driving car it might add to its model line-up for consumers. 'FCA is committed to bringing self-driving technology to our customers in a manner that is safe, efficient and realistic,' chief executive officer Sergio Marchionne said. John Krafcik, CEO of Waymo, is seen in a 2017 photo with a customized Chrysler Pacifica that is being used in the Google-owned firm's autonomous car project'Strategic partnerships, such as the one we have with Waymo, will help to drive innovative technology to the forefront.' Waymo plans to launch the'world's first self-driving transportation service' this year, with people able to summon rides from driverless vehicles using a smartphone application.
Uber has announced plans to open a new laboratory for the development of its futuristic flying taxis. The company said it will invest £17.5 million ($23 million) over five years to build air traffic control systems, AI algorithms, charging systems and more. The propeller-powered vehicles will be small, electric aircraft that take off and land vertically (VTOL) with zero emissions and quiet enough to operate in cities. Engineers and artificial intelligence experts at the new research centre in Paris will be tasked with designing the vehicles ahead of the service's launch by 2020. Uber has announced plans to open a new laboratory for the development of its futiristic flying taxi service (artist's impression) Set to open this autumn, the Advanced Technologies Centre in Paris (ATCP) will be Uber's first R&D centre outside North America. The laboratory will work directly with prominent engineering school Ecole Polytechnique, also based in the French capital.
Tesla is standing by its production targets for the Model 3. On Wednesday, the firm assured investors that its key new vehicle was on track, and sought to downplay increased wariness over its finances, saying it expected to achieve net profit in both its third and fourth quarters. Over the last few months, the Model 3 has been caught up in what CEO Elon Musk referred to as'production hell,' with numerous delays that have forced the firm to adjust its initial goals. Still, the company - which posted its worst-ever quarterly loss on Wednesday - warned it would shut down production for about 10 days during the second quarter, including its most recent stoppage in April. Tesla is standing by its production targets for the Model 3. On Wednesday, the firm assured investors that its key new vehicle was on track, after months of what CEO Elon Musk has called'production hell' That temporary shutdown underscores how Tesla's assembly line still needs work to produce its goal of 5,000 Model 3 vehicles per week by the end of June. Tesla said its spending had been trimmed and the company would spend less than $3 billion in capital expenditures in 2018, below its 2017 total of $3.4 billion.
'After more than a year of thorough planning, development and safety reviews, we transitioned most operations to having a single vehicle operator, without a second person to collect feedback for our engineers using a laptop in the passenger seat,' the company said in the statement. 'This transition happened slowly as we worked with our vehicle operators to make sure they were well-trained and felt comfortable with this new job. Arizona governor Doug Ducey suspended Uber's self-driving vehicle testing privileges on Monday in the wake of a pedestrian fatality in a Phoenix suburb last week. Mr Ducey said in a letter to CEO Dara Khosrowshahi that video footage showed the company's'unquestionable failure'. The crash raised concerns about the San Francisco-based company's ability to safely test its technology in Arizona, he warned.
Most Android phones will have to wait until 2019 to duplicate the 3D sensing feature behind Apple s Face ID security, three major parts producers have told Reuters, handicapping Samsung and others on a technology that is set to be worth billions in revenue over the next few years. The development of new features for the estimated 1.5 billion smart phones shipped annually has been at the heart of the battle for global market share over the past decade, with Apple, bolstered by its huge R&D budget, often leading. When the iPhone 5S launched with a fingerprint-sensing home button in September 2013, for example, it took its biggest rival Samsung until just April of the next year to deliver its own in the Galaxy S5, with others following soon after. Most Android phones will have to wait until 2019 to duplicate the 3D sensing feature behind Apple s Face ID security, three major parts producers have told Reuters. The 3D sensing technology is expected to enhance the next generation of phones, enabling accurate facial recognition as well as secure biometrics for payments, gesture sensing, and immersive shopping and gaming experiences.