The electric car manufacturer's increased first quarter profits were fueled in part by zero-emission vehicle credit sales to other car makers. They were also boosted by more efficient manufacturing. With the right financing, the company predicts its Model S electric car could now be accessible to 10 million American households.
Tesla Motors will operate at a profit in the first quarter of 2013, the company said in a letter to shareholders this week. The prediction advances by almost a whole year the company's timeline for profitability, which had previously been set for the fourth quarter of 2013, Voelcker writes.