Tesla Takes Charge! Electric Carmaker Turns Profit

Tesla Motors ran circles around its own projections, exceeding the number of Model S cars it expected to sell in the first quarter of this year. Instead of 4,500 cars, Tesla delivered 4,750. That was good enough for the company to turn a profit.

Wall Street was delighted by the news, pushing the company's stock nearly 18 percent higher to close at $44.68 on Monday.

Equally delighted was Elon Musk, Tesla Motors co-founder and CEO, “I am incredibly proud of the Tesla team for their outstanding work. There have been many car startups over the past several decades, but profitability is what makes a company real. Tesla is here to stay and keep fighting for the electric car revolution. I would also like to thank our customers for their passionate support of the company and the car. Without them, we would not be here.”

Tesla also announced that all 60 kWh cars have been and will be built with Supercharger hardware included. According to the company’s website, “Tesla is taking a slight cost risk that ultimately all customers will want to buy the Supercharger upgrade and receive unlimited, free long distance travel for life. Even for those that never drive long distances, this will improve the resale value of their car to people that do.”

Also on Palo Alto Patch:

Techies Line Up to Drive Tesla Model S

Apple Plucks Palo Alto’s WiFiSLAM

Palo Alto Startup Acquired by TripAdvisor

Ex-Googler Starts Site for Part-time Job Seekers

Millionaires Minted: Palo Alto Startup Sold

Diagnose Your Skin Symptoms with This App