Tesla Motors has posted a deeper second quarter loss of US38.5m compared to US$29.5m in the same period last year.

Despite the sharper loss, revenues for the second quarter were US$28.4m, a 36% increase from the US$20.8m reported in the previous quarter. Gross margin improved to 22%, up from 19% for the prior quarter and up from 8% for the second quarter of 2009.

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Improved gross margin was offset by increased spending on research and development and global expansion.

“We are pleased to report higher gross margins and steady top-line growth, driven by our best quarter for new Roadster orders since the third quarter of 2008 and our growing powertrain activities,” said CEO Elon Musk.

“The Roadster is showing the world that it is possible to drive a high performance electric vehicle, underscoring Tesla’s technology leadership position.”

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