Feeds

Tesla speeds to $1m profit

Roadster surge

Internet Security Threat Report 2014

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Antarctic ice THICKER than first feared – penguin-bot boffins
Robo-sub scans freezing waters, rocks warming models
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Your PHONE is slowly KILLING YOU
Doctors find new Digitillnesses - 'text neck' and 'telepressure'
Reuse the Force, Luke: SpaceX's Elon Musk reveals X-WING designs
And a floating carrier for recyclable rockets
NASA launches new climate model at SC14
75 days of supercomputing later ...
Britain's HUMAN DNA-strewing Moon mission rakes in £200k
3 days, and Kickstarter moves lander 37% nearer takeoff
prev story

Whitepapers

Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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.
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.