Tesla, the American maker of electric cars, of which Abu Dhabi's Aabar Investments is a shareholder, is poised for profitability after exceeding its sales targets.
Sales of its Model S car have already outstripped targets for the quarter, leading the company to alter its outlook.
"As customers who note their Model S serial number this weekend will realise, vehicle deliveries [sales] exceeded 4,750 units versus the 4,500 unit prior outlook. As a result, Tesla is amending its Q1 guidance to full profitability," Tesla said.
Tesla has sold almost 10,000 electric cars without recording a profit. Nevertheless, it also counts Germany's Daimler and Japan's Toyota as its strategic investors.
"There have been many car start-ups over the past several decades, but profitability is what makes a company real," said Elon Musk, Tesla's chief executive.
The announcement from Tesla comes as its competitor Fisker Automotive, also based in the United States, appears on the brink of bankruptcy.
Last Thursday, Reuters reported that the maker of electric cars had hired a law firm to advise on a possible bankruptcy filing, having not built a car since July, and laying off 200 workers.
Aabar is thought to hold a 3.1 per cent stake in Tesla, but media reports last year suggested the Abu Dhabi company was intent on divesting its share in the car maker.
Apart from building its own cars, Tesla will also supply Daimler's Mercedes B-Class with 135 horsepower electric engines.
The B-Class was unveiled at the New York International Autoshow last week.
Electric cars are making inroads into the automotive market. Traditionally blighted by low speeds, a short range and long charging times, Tesla and Fisker have impressed with innovative technology and designs.
Tesla's financial obligations include the repayment of a US$465 million (Dh1.7 billion) low interest loan to the US energy department.
