(Bloomberg) -- Tesla Motors Inc. posted a wider first-quarter loss because of higher research outlays even as the electric carmaker boosted revenue from battery packs and development work with partners Daimler AG and Toyota Motor Corp.
The company's net loss widened to $48.9 million from $29.5 million a year earlier, before Tesla sold shares to the public.
Revenues more than doubled to $49 million.
Tesla aims to become a global leader in battery-powered cars, aided by the supply agreements with Toyota and Daimler. The California company has been building and marketing $109,000 rechargeable Roadster sports cars for several years now.
The company led by Elon Musk, its biggest investor, is readying a former Toyota joint-venture factory in California for production of the $57,400 Model S electric sedan in mid-2012.
"The continued performance of our Roadster business and growing contributions from our component supply and development programs for the Daimler Smart fortwo, Daimler A-Class and Toyota RAV4 EV, produced quarterly revenue more than double of that achieved in the same quarter of last year," Musk said in a statement.
Revenue from development services surged to $15.4 million from $227,000 a year earlier, Tesla said.
Because of ongoing capital and manufacturing outlays tied to the Model S rollout and other expenses, Tesla does not expect to post an annual profit for several years.