Tesla Motors Turns A Profit

Written By: Thatcher Michelsen April 3, 2013 0
Tesla Motors announced earlier this week that it will turn its first operational profit this quarter.
Tesla Motors announced earlier this week that it will turn its first operational profit this quarter.

Tesla Motors, the California-based maker of upper-end electric cars, announced earlier this week that it will produce its first-ever operational profit for the first quarter of this year. The company has been previously attacked by critics for being unable to produce more money than it spends, and the developments from this week suggest that the eco-friendly car business may be finally turning itself around.

The 10-year old company has been riding a wave of increased success, according to recent press releases from Tesla. For example, it managed to sell every one of the 4,750 cars it made in the past three months. Making matters better was the fact that this number was 250 higher than previously forecast. 

Elon Musk, the automaker's CEO and co-founder, said in a statement last weekend that this quarter was a watershed moment for the company and represented a big step forward for the electric car movement.

"There have been many car startups over the past several decades, but profitability is what makes a company real," Musk said. "Tesla is here to stay and keep fighting for the electric car revolution."

Things haven't been 100 percent perfect for the California automaker. For example, Tesla plans on eliminating production of its 40 kilowatt-hour battery, due to an overall lack of demand. Officials from the company stated that customers who have already ordered the device will be given a stronger but restricted one for no extra charge.

This development highlights the slow-but-steady growth in the green-friendly auto sector in the United States. It reflects a gradually increasing interest in electric cars, which offer both financial and ecological advantages to consumers.

Stay with the LifeIsGreen.com blog for more updates on this and other green technology topics. 

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