Tesla production, spending rising, 500,000 cars planned in 2018

By Kshitiz Goliya and Alexandria Sage SAN FRANCISCO (Reuters) - Electric carmaker Tesla Motors Inc said it would accelerate production to meet strong demand for its upcoming Model 3 mass-market sedan, but higher spending will make it harder to reach promises of profitability this year. Tesla shares rose more than 5 percent to $234.70 in after hours trade on Wednesday after the company said it was on track to deliver 80,000 to 90,000 electric vehicles this year and vowed to reach an annual produc