In July Tesla reached profitability having 1 million Dollars in earnings on 20 million Dollars revenue, the firm stated on Friday. Last month Tesla shipped 109 Roadster models, reporting a new orders surge for its electric sports car.
Elon Musk - Tesla CEO affirmed 'We achieved a bottom-line profitability thanks to a tremendous amount of hard work by the Tesla team to improve quality, while simultaneously reducing costs on the Roadster. This also shows that there is strong demand for a car that is unique in offering high performance with a clean conscience.Â Moreover, customers know that in buying the Roadster they are helping fund development of our mass market electric cars'.
Tesla says it's 'deep into the development' making the Model S, expected to hit the dealerships in 2011 or 2012. About the stores, the firm will open this summer retail locations in West Palm Beach, Chicago, Toronto, Washington DC Monaco and Munich.
Its profitability marks the newest milestone on the positive news chain seen at Tesla over these last couple of months. In May, Tesla took a 50 million Dollars investment from parent Daimler - Mercedes . In June, the company got approval for 465 million Dollars in loans from the American Department of Energy for funding construction for the Model S building factory.
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