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Tesla Motors was cash flow positive last week, CEO says

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Tesla Motors was cash flow positive last week, CEO says

Tesla Motors was cash flow positive last week, the EV maker’s CEO Elon Musk announced yesterday in a posting on Twitter.

“Am happy to report that Tesla was narrowly cash flow positive last week. Continued improvement expected through year end,” Musk wrote in the message that got through to his more than 112,000 followers. The message, which was re-posted more than 500 times by Twitter users, contained no additional details.

Tesla Motors hasn’t turned a quarterly profit yet but is aiming to expand production of the Model S sedan at its factory in Fremont, California. The starting price of the car will increase by $2,500 to $59,900 on January 1, the company announced last week in a statement.

Tesla announced it will build at least 20,000 Model S vehicles at the Fremont plant next year and will introduce the Model X electric sport-utility vehicle in 2014. Tesla’s Model S was named last month 2013 „Car of the Year” by Motor Trend magazine, the first time the award was given to an electric vehicle.

The Model S can travel between 160 miles (257 kilometers) and 300 miles (483 kilometers) on a single charge, depending on the size of the battery pack purchased.

by Dan Mihalascu (my Google+) - Tuesday, December 4th, 2012 - filed under News, Tesla. Image credit: .
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