Tesla’s 4Q net loss doubles but shares up on outlook

DETROIT (AP) — Tesla Motors posted its 11th straight quarterly loss Wednesday, and its results badly missed Wall Street’s forecasts. But the electric car maker’s shares soared anyway on news that its lower-priced Model 3 sedan is on schedule to be released next year.Tesla said it will unveil the much-anticipated $35,000 car on March 31 and expects to start production at the end of 2017.
CEO Elon Musk said he’s not worried about competition from the all-electric Chevrolet