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Earlier this week, it looked like Wall Street’s love affair with Tesla Motors was coming to an end. The company's stock price was down 40 percent from the start of the year, as analysts expressed concern over its ability to affordably scale up production.

On Wednesday, Tesla reported its fourth-quarter earnings showing a non-GAAP net loss of $114 million, or 87 cents per share -- which was far worse than analysts expected. According to Thomson Reuters, analysts were expecting earnings of 10 cents per share.

Tesla took an even bigger hit on a GAAP basis, losing $320 million, or $2.30 per share.

And yet, the Silicon Valley electric-vehicle maker saw its stock go up 10 percent in after-market trading as CEO Elon Musk pledged ambitious growth for 2016. Tesla set a target of 80,000 to 90,000 vehicle deliveries this year, up from 50,000 deliveries last year, and 32,000 the year before.

“Tesla is approximately doubling its cumulative sales every year,” said Musk on a post-earnings conference call. “I think that’s pretty exciting and unusual.”

Musk said his company also aims to be net cash flow positive by March, and achieve non-GAAP profitability in 2016. This outlook comes as Tesla plans to invest $1.5 billion to support cell production at the Gigafactory, open 80 new retail stores, build 300 new supercharger locations and set up production for the Model 3 mass-market EV.

Tag(s) : #Renewable Energy
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