Now the company can celebrate an important
milestone -- its first
profit. After many months in the red, July saw the company
in the black, making $1M USD in profit on $20M USD in revenue.
The profits came thanks to a record 109 cars shipped in the month.
Manufacturing cost cuts also helped to enable the profit.
Chief Executive Elon Musk comments, "There is strong demand for
a car that is unique in offering high performance with a clean
conscience. Customers know that in buying the Roadster they are
helping fund development of our mass market electric cars."
like many R&D driven greentech firms, offered a target date for
profitability. However, it appears that Tesla is one of the few
to actually deliver on such a date -- having projected
a profit in "mid-2009".
The Tesla Roadster
undeniably features the most attractive production electric vehicle
body design to date. They also offer fittingly sporty
performance and a utilitarian 244-mile range. In other words,
while expensive, the Roadsters do deliver a strong experience.
Currently, the Roadsters retail for a base price of $109,000.
$465M USD from the U.S. Department of Energy, to produce a luxury
sedan reachable by more customers at a price point of $49,900.
This new model will be called the Model
The company is also working with Daimler to create
electric versions of the popular Smart car. Late this year, the
company will deploy a fleet of the 1,000 of the electrified
ultra-compact vehicles. Tesla is also set to deploy a
higher-performance version of the Roadster -- the Roadster Sport --
quote: What I do see is the potential for some of the ultra-rich to get even more rich due to government handouts at the expense of the public debt.