Tesla Motors delivers first profit and plans to invest $200m

Posted on 10 May 2013 by Tim Brown

Electric car manufacturer Tesla Motors has reported its first quarterly profit, demonstrating a growing interest in low carbon performance vehicles in the US.

Tesla Motors, which was established in 2003, this week reported earnings of $15 million (£9.6 million) in its first quarter, having delivered nearly 5,000 Model S electric cars during the first three months of the year. Company chairman and CEO, Elon Musk, said Tesla expects to deliver 21,000 Model S cars worldwide, an increase of…

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