Tesla reported Wednesday its loss for the second quarter widened to $184 million as the electric carmaker geared up for expansion. The net loss tripled from the $61 million in the same period a year ago for the company founded by tech entrepreneur Elon Musk and known for producing vehicles sought after by celebrities and other wealthy individuals.

Revenue rose some 20 percent from a year ago as Tesla produced a record 12,807 vehicles and delivered 11,532. Tesla has been in the midst of a global expansion, and is preparing to launch its new Model X, a crossover designed to boost the market appeal for the company. Tesla plans to invest about $1.5 billion this year to expand production capacity, construct its huge "Gigafactory" for batteries and expand its network of charging stations. Tesla is also gearing for a new project to adapt car batteries to store power in homes and businesses.