Tesla Expects to Turn Profit In 2013, Produce 20,000 Model S
Silicon Valley start-up Tesla Motors expects to turn a profit in the first quarter for the first time and said it expects to meet its target of producing 20,000 electric vehicles this year.
With the dust barely settled on its highly public tussle with the New York Times over the performance of its Model S sedan, Tesla said it made 2,750 vehicles in the fourth quarter and posted a net loss of $89.9 million during that period. The company recorded $306.3 million in revenue for the quarter.
Tesla said it plans to deliver about 4,500 vehicles in the first quarter, when it expects to make a profit for the first time. That would put it on track to make 20,000 for the year.
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