August 07, 2009 12:31 PM Eastern Daylight Time
Tesla Motors Attains Profitability Milestone
Electric Vehicle Manufacturer Achieves Record Deliveries in July and Will Significantly Expand in Europe This Quarter
SAN CARLOS, Calif.--(BUSINESS WIRE)--Tesla Motors attained a significant milestone in July when it achieved overall corporate profitability with approximately $1 million of earnings on revenue of $20 million.
Tesla reached overall corporate profitability while continuing to develop the all-electric Model S sedan and opening regional sales and service centers. Profitability arose primarily from improved gross margin on the Roadster 2, the second iteration of Tesla’s award-winning sports car.
Tesla shipped a record 109 vehicles in July and enjoyed a surge in new Roadster purchases. In the third quarter, the privately held company will make significant deliveries to European customers while expanding its presence in several countries.
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