Feeds

Tesla speeds to $1m profit

Roadster surge

Intelligent flash storage arrays

While the rest of the US auto industry is dissolving during the ongoing Meltdown, Tesla Motors - the manufacturer of high-end all-electric speedsters - is making money.

The San Carlos, California company announced on Friday that it had squeezed $1m of profit out of $20m in sales during during July. The company sold a record 109 cars last month and "enjoyed a surge in new Roadster purchases," according to a statement.

The company has been basking a a series of good-news events recently. In June it wrangled $465m from the US government's Advanced Technology Vehicle Manufacturing Program (ATVM). It plans to use $100m of that low-interest loan to develop a high-performance drive train manufacturing center, and the rest to build a production facility for its upcoming Model S sedan, which the company says will "have a base price of $49,900, roughly half the price of the Roadster." The Model S is scheduled for release in the US in 2010.

Then, in mid-July Tesla announced that it had secured a financing deal with Bank of America. That deal, according to CEO Elon Musk, "will help advance EV adoption by allowing more Americans to experience the joy and convenience of owning a Tesla. And like our current customers," Musk said with more than a modicum of smugness, "our new customers will never need to visit a gas station again."

Tesla also announced Friday that it would open two more European dealerships this summer, in Munich and Monaco. It opened its first European showroom, in London, in late June.

At its UK opening, Tesla also introduced its £100,000 Roadster Sport, which can leap from zero to 60mph in 3.7 seconds. The standard Roadster, the company's flagship model, is a relative slowpoke, with a 3.9-second zero-to-60 performance. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
SECRET U.S. 'SPACE WARPLANE' set to return from SPY MISSION
Robot minishuttle X-37B returns after almost 2 years in orbit
LOHAN crash lands on CNN
Overflies Die Welt en route to lively US news vid
You can crunch it all you like, but the answer is NOT always in the data
Hear that, 'data journalists'? Our analytics prof holds forth
Experts brand LOHAN's squeaky-clean box
Phytosanitary treatment renders Vulture 2 crate fit for export
No sail: NASA spikes Sunjammer
'Solar sail' demonstrator project binned
Carry On Cosmonaut: Willful Child is a poor taste Star Trek parody
Cringeworthy, crude and crass jokes abound in Steven Erikson’s sci-fi debut
Origins of SEXUAL INTERCOURSE fished out of SCOTTISH LAKE
Fossil find proves it first happened 385 million years ago
Human spacecraft dodge COMET CHUNKS pelting off Mars
Odyssey orbiter yet to report, though - comet's trailing trash poses new threat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.