Posted Dec 6th 2012 9:15AM
According to Bloomberg, Tesla actually earned money last week. CEO Elon Musk sent out a message on Twitter saying his company was "narrowly cash positive." That's big news for a company that hasn't turned a quarterly profit as of yet. Tesla is currently in the middle of stepping up production for its Model S sedan, and has announced the vehicle's MSRP will jump by US$2,500, presumably to help fund that expansion.
So far, Tesla says it has built around 20,000 Model S units at its California production facility, though analysts say the ability to repeatedly generate a positive cash flow would go a long way toward the company's evolution into a "sustainable operating entry." So far, the Model S has garnered substantive praise, earning the Motor Trend Car of the Year Award among others. Tesla shares are up 19 per cent this year over the same time period in 2011.
Related Gallery2012 Tesla Model S - First Drive
FOLLOW AUTOBLOG CANADA
Follow us on FacebookFollow
Get updates from Autoblog Canada posted directly to your News Feed.