Tesla Motors Generates Profit For First Time Ever

Don’t look now but the stumbling Tesla Motors, the electric car company recently on the receiving end of a $US465 million government loan, has turned a profit for the first time in its six-year history.

The numbers broke down to about $US20 million in revenue and $US1 million in profit. That $US465 million is set to fund development on the company’s first sedan offering, the $US50,000 Tesla Model S. Not stumbling anymore, it seems. [CNN]