Tesla Motors, the maker of high-end electric cars, said on Wednesday that a flurry of production in the fourth quarter helped it achieve its target of building 35,000 vehicles last year.

But increased spending on a planned sport utility vehicle and a battery factory widened the company’s loss and sent the stock tumbling more than 3 percent in after-hours trading. That fall followed a decline of 1.6 percent in regular trading, to close at $212.80.

The company built more than 11,000 Model S sedans during the quarter, although not all the cars were sold during the period because of severe weather and shipping problems, said Elon Musk, Tesla’s chief executive.

Tesla said it had revenue of $3.2 billion in 2014, up from about $2 billion in the previous year. The company reported a net loss for the year of $294 million, compared with a loss of $74 million in 2013.

In the fourth quarter, Tesla had revenue of $957 million, an increase from $615 million in the same period a year earlier.

The company reported a loss in the quarter of about $108 million, compared with a loss of $16 million in the fourth quarter of 2013.

Tesla’s strong production numbers are an indication that it is prepared to increase manufacturing even further this year to add a second vehicle, the Model X sport utility vehicle, to its lineup.

Mr. Musk said in a letter to shareholders that the company expected to begin deliveries of the Model X in the third quarter of this year. Over all, he said, Tesla expects to sell about 55,000 vehicles in 2015.

Mr. Musk said he expected profit margins on the Model S to improve this year, but said those gains would be offset by costs for introducing the new S.U.V.

The company continues to lose money as it builds a market for high-end, all-electric vehicles. But Mr. Musk expressed optimism that consumer acceptance of battery-powered cars was gaining momentum.

“Our customers have now driven their Tesla vehicles over 750 million miles,” Mr. Musk said. “We are looking forward to achieving significant milestones in 2015, in addition to seeing our customers reach the billion-miles-driven mark.”

He said the company, which is based in Palo Alto, Calif., expected to expand sales in all of its global markets this year, including China, where the Model S has been slow to catch on, partly because of problems experienced by customers in charging their vehicles.

“Our China initiatives include simplifying the buying process there by having Tesla personnel install charging points at customer homes or businesses well before vehicle delivery,” he said.

Last year, about 55 percent of Model S sales were in North America, 30 percent were in Europe and 15 percent in Asia-Pacific region.

Tesla expects to spend $1.5 billion this year on capital projects, including investment in a new battery factory. Operating expenses are projected to grow about 50 percent this year, after doubling in 2014.

An important area of growth will be additional charging stations for its cars.

Mr. Musk said Tesla had 380 “supercharger” stations operating globally and a growing number of “destination” charging stations at hotels and other facilities. He said it would increase the number of supercharger stations by 50 percent this year.