Quarterly revenues more than doubled at US-based electric-car maker Tesla — helped by higher deliveries of its upmarket vehicles — but losses also grew.

The company reported revenues of almost $2.8 billion in the three months to 30 June (up from £1.3 billion a year earlier), but losses increased from $293 million to $336 million.

Almost $2.3 billion of the company’s revenues during the quarter came from its automotive unit — 93% more than a year earlier.

Tesla is preparing to ramp up car production, as it rolls out its most affordable car yet (the $35,000 Model 3) for the mass market. The company told shareholders that it expects revenues to grow “significantly” in the second half of the year, while expenses hold steady.

It delivered more than 47,000 of its high-end Model S and Model X cars in the first half of 2017, over 50% more than a year earlier.

Since Tesla rolled out the Model 3 at the end of July (pictured), it is averaging more than 1,800 orders a day for the car, adding to the more than 400,000 orders that have already placed — and so far demand for the new model isn’t affecting interest in the older models.

The company plans to make 5,000 of the Model 3 cars per week by the end of 2017 at its Fremont factory, and then increase production to 10,000 per week.