The electric auto maker reported wider-than-expected losses of $717.5m in the second quarter compared with a $336.4 million in the same period previous year.
Tesla reported a loss of $3.06 a share, missing analyst forecasts for a loss of $2.88 a share, on sales of $4 billion, which was just ahead of predictions for $3.99 billion.
"In July 2018, Model 3 not only had the #1 market-share position in its segment in the US, it outsold all other mid-sized premium sedans combined, accounting for 52% of the segment overall", Tesla's earnings press release stated.
The net loss more than doubled from the same quarter a year ago. In May, during the company's first-quarter earnings call, Musk berated analysts for asking what he said were "boring, bonehead" questions.
The v9.0 update will come out in about four weeks, Musk said.
On the call, Musk also said he expects the company to avoid returning to the markets for capital and to be "essentially self-funding on a go-forward basis". Ultimately, the electric auto manufacturer wants to see its factories churning out 10,000 units per week by the end of this year, doubling the current rate of production.
But Musk proved far more subdued during Wednesday's call, apologizing to analysts he had clashed with during the last call for being "impolite".
Tesla gained 1.1% in trading Wednesday and down 5.8% since the beginning of 2018 before the earnings release.
Despite a rocky first half - ncluding missed manufacturing targets, a downgrade of its debt and a recent report showing the company took the unusual step of asking suppliers to refund money on payments already made - Tesla's stock has been resilient. The stock has slumped 19 per cent since a 2018 high of $370.73 in June. While construction is expected to start in the next few quarters, Tesla's investment won't begin "in any significant way" until next year, according to the shareholder letter.
Beyond its goal of making 6,000 vehicles a week, Tesla hopes to expand Model 3 production to 10,000 units in an unspecified timeframe.
The company also outlined expansion plans, saying it would likely announce the location of a European factory this year and planned a Shanghai, China plant to produce both vehicles and batteries.