BackElectric car maker Tesla posts first profit
Tesla earns a profit of $11 million in the firat quarter as revenue rises 83% from a year ago to $562 million
PremiumSan Francisco:Tesla Motors Inc. said Thursday it posted its first-ever quarterly profit as the electric carmaker beat its own forecasts and surprised market analysts.
Tesla conducted an initial public offering in 2011, raising $226 million.
The first model, the Tesla Roadster, cost more than $100,000 and can go nearly 250 miles (400 kilometers) on a single charge.
It later launched the Model S, starting at $49,900, but with financing, tax incentives and resale guarantees aimed at winning over consumers.
Tesla also provides electric powertrains and other equipment to carmakers including Toyota Motor Corp. and Mercedes-Benz US International Inc.
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