After years of losses, the company's persistence is finally paying off
Luxury electric car maker Tesla Motors appears to be firing on all cylinders. Despite a painful couple of years that saw the company cutting back to survive the recession, the company emerged stronger than ever. Thanks to a new partnership with Daimler, additional engineering, distribution, and marketing resources were gained. And most importantly, Tesla finally began to deliver vehicles.
Now the company can celebrate an important milestone -- its first profit. After many months in the red, July saw the company in the black, making $1M USD in profit on $20M USD in revenue. The profits came thanks to a record 109 cars shipped in the month. Manufacturing cost cuts also helped to enable the profit.