Tesla Motors, widely considered one of the most successful clean tech start-ups the world has seen, is ready to post its first profit as a listed company.
The electric car maker released its first vehicle in 2008 and is now looking to report black numbers on the success of its second car – the Model S.
The news has been trumpeted by the company’s chief executive, Elon Musk, who says a quarterly profit can be expected in the second half of 2013, something to toast at any celebration for its 10-year anniversary (it went public three years ago).
“Now, the tough thing for Tesla is to actually make a profit for the first time. That’s, I think, when you start being a real company,” he told reporters over the weekend.
“I’m hoping we’ll have a profitable quarter this year. Shame on us if we can’t achieve that.”
Musk – who co-founded PayPal and SolarCity – first flagged the prospect of an imminent quarter of profit via Twitter in December.
“(I) am happy to report that Tesla was narrowly cash flow positive last week. Continued improvement expected through year end,” he told his 120,000 followers.