While we really wish they made their cars in Michigan with Michigan-made parts, we’re happy to see that Tesla is making real money and getting great reviews.
Tesla’s share prices jumped 13 percent earlier this month after the California-based manufacturer of electric vehicles reported a surprise operating profit of $26 million in the second quarter.
The operating profit was driven by record sales of Tesla Model S hatchback and improvements in its automotive operations, according to a report in the Los Angeles Times. Moreover, Tesla ended the quarter with almost $750 million in cash and the company paid off its federal development loan earlier this year.
“Our financial position and balance sheet have never been stronger,” Tesla CEO Elon Musk said in a letter to shareholders.
Could the news get any better for Tesla? Well, yes, if you heard about the rave review their Model S they just received from Consumer Reports. They said it "performed better, or just as well overall, as any other vehicle -- of any kind -- ever tested by Consumer Reports."
On the bright side, this really shows that electric-vehicle technology can go mainstream.
Now about making some of that same magic here in Michigan?