Electric car manufacturer tesla comes up trumps

electric car manufacturer tesla comes up trumps

The company earned a good 11 million dollars in the first quarter after a loss of 90 million dollars in the same period of the previous year. The share price shot up and was up 17 percent on thursday before the stock exchange opening in new york.

Tesla sold 4900 of its electric cars at the beginning of the year, 400 more than originally planned. The base price is 70,000 dollars (53,000 euros), but financing has recently become available. "We are pleased with the strong global demand for the model S," founder and CEO elon musk wrote to his shareholders on wednesday. Sales jumped 83 percent to 562 million dollars (427 million euros).

Tesla is considered one of the technologically leading manufacturers of electric cars. However, high development costs and the ramp-up of in-house production had repeatedly led to losses in the past. Competitors in the USA had to give up in the meantime: at the beginning of may, the smaller coda slipped into insolvency. Hybrid specialist fisker has had to lay off most of its employees and is looking for an investor.

Tesla, on the other hand, scored points with customers for its sleekly designed cars. Testers are also enthusiastic: on thursday, the u.S. Consumer magazine "consumer reports" – the american foundation for product testing – awarded the model S 99 out of a possible 100 points. The last time a lexus luxury sedan achieved this high score was six years ago.

"The tesla model S is packed with technological innovations," explained chief tester jake fisher. "It accelerates, reacts and brakes like a sports car, has the ride comfort and noise insulation of a luxury car and is far more energy efficient than the best hybrid vehicles." The car had performed better than any other car that "consumer reports" had ever tested, it hailed.

It’s also a great success for daimler, one of tesla’s financial backers along with toyota. Both use the californian company’s technology in their own electric cars. Daimler joined tesla in 2009, before the company went public in mid-2010. Tesla made a name for itself with the roadster electric sports car, followed by the four-door model S. The crossover model X is due to be launched next year.

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