2009
Tesla Motors says it earned a profit last month, the first time the Silicon Valley automaker has run in the black since its founding in 2002.
The company earned $1 million on $20 million in revenue in July after shipping a record 109 Roadsters. It attributed the profit largely to improved margins on the electric two-seater and a “surge” in orders for the car, which has a base price of $109,000.
“We achieved 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,” company CEO Elon Musk said in a statement. “This also shows there is a strong demand for the car… Moreover, customers know that in buying the Roadster they are helping fund development of our mass-market electric cars.” (Wired)
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