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Home | Green Cars News | Markets & Finance | Tesla Achieves Profitability for the First Time

Tesla Achieves Profitability for the First Time

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Tesla Motors reported that it had earned $1 million on $20 million in revenue last month after shipping a record 109 Roadsters to customers who had pre-ordered the cars.

The Tesla Roadster has a range of about 244 miles per charge -- the first production electric vehicle to cross the 200-mile mark.

Tesla sells cars online and at showrooms in
California (Menlo Park and West Los Angeles), New York City, Seattle and London. Tesla is rapidly expanding its network of showrooms this summer with stores in Chicago, South Florida, Washington DC, Toronto, Munich and Monaco.

Tesla, which in June won Department of Energy approval for $465 million in low-interest loans, is deep into the development of the Model S. The all-electric sedan will have a base price of $49,900, roughly half the price of the Roadster.

In addition to the Model S program, Tesla is jointly developing an electric version of the popular Smart car with Daimler. The first of an initial test fleet of 1,000 electric Smart cars are expected to be on the road in late 2009.

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