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Tesla Motors Turns A Profit For The First Time

After 10 long years without making a buck, Elon Musk’s firm made $11 million in the first quarter of 2013.

Tesla Motors Turns A Profit For The First Time

Elon Musk breathed a sigh of relief last night as Tesla Motors posted its first-ever profit. The automotive firm made $11 million in the first quarter of 2013, and the serial entrepreneur behind SpaceX tweeted the news, thanking his investors and customers for their patience.

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The writing was on the wall last month for a change in Tesla’s fortunes after its Model S beat sales expectations. A total of 4,900 cars were sold in Q1 2013, but the firm’s goal is to shift 45,000 vehicles yearly, 15,000 in the U.S. and 30,000 around the world.

[Image by Flickr user exfordy]

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My writing career has taken me all round the houses over the past decade and a half--from grumpy teens and hungover rock bands in the U.K., where I was born, via celebrity interviews, health, tech and fashion in Madrid and Paris, before returning to London, where I now live. For the past five years I've been writing about technology and innovation for U.S.

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