Tesla Motors Generates Profit For First Time Ever

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Don't look now but the stumbling Tesla Motors, the electric car company recently on the receiving end of a $465 million government loan, has turned a profit for the first time in its six-year history.

The numbers broke down to about $20 million in revenue and $1 million in profit. That $465 million is set to fund development of the company's first sedan offering, the $50,000 Tesla Model S. Not stumbling anymore, it seems. [CNN]