Elon Musk's Tesla announces biggest quarterly loss ever


But Tesla did note that making production volume plans can be hard: "It is important to note that while these are the levels we are focused on hitting and we have plans in place to achieve them, our prior experience on the Model 3 ramp has demonstrated the difficulty of accurately forecasting specific production rates at specific points in time".

The loss was narrower than Wall Street had expected, however.

Musk said the Model 3 production hell resulted from the company being a little bit overconfident, and a little too complacent about the company's ability to make batteries.

Musk said there is "no active or passive" search for a new CEO for the company, but that at some point he might be willing to appoint someone and take on a different role more focused on product development and engineering.

Musk said concrete or steel blocks would have been "extremely boring".

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Speaking to analysts on Wednesday night, Musk said that 2017 had been "on balance, a phenomenal year", with the launch of the company's first mass production vehicle, the Model 3; the unveiling of the Tesla Semi; and the installation of the world's biggest lithium-ion battery right here in Australia.

The electric auto company continues to predict it will be able to produce 5,000 Model 3 vehicles a week by the end of the second quarter of this year. More than expected by analysts.

Tesla made just 2,425 Model 3s in the fourth quarter, and has pushed back production targets multiple times. Tesla expects to deliver about 100,000 of the two models in 2018.

"What we can say with confidence is that we are taking many actions to systematically address bottlenecks and add capacity in places like the battery module line where we have experienced constraints", the company said. "The timeline to do that remains murky".