x Abu Dhabi, UAEWednesday 26 July 2017

Roadster sales buoy Tesla

SAN CARLOS, CALIOFORNIA // Seven years into its existence, Tesla Motors has achieved a milestone few Silicon Valley startups manage: the company was profitable in July. It says its revenues of about US$20 million (Dh74m) for the month exceeded its expenses by about $1m (Dh3.7m). Since Tesla is a privately held company, it has no obligation to disclose its finances, nor give details on its sales and it has been selective about the information it releases. Nevertheless, in July the company had its best month yet for Roadster deliveries, with 109 placed in customer hands.