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Toyota Motorsports TMG EV P002 electric racer.

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Roewe E50 retails for between 220,000-240,000 yuans.

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21-Feb-2013

PHOTO CAPTION: Tesla Model S assembly line has turned out nearly 3,000 units in 2012.

Tesla Expects to Turn Profit In 2013, Produce 20,000 Model S

Since launch of production in 2012, Tesla has manufactured 2,750 Model S luxury electric sedans and aims to reach 20,000 annually.

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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