In early October, Elon Musk wrote a blog post saying he expected Tesla Motors “to become cash flow positive at the end of next month.”
Yesterday, he confirmed his prediction via Twitter:
Am happy to report that Tesla was narrowly cash flow positive last week. Continued improvement expected through year end.
— Elon Musk (@elonmusk) December 4, 2012
After Tesla stock collapsed by 12 per cent in late September following a worrisome SEC filing, the electric car company has been on a roll, winning a string of awards for the Model S.
When Motor Trend magazine named the Model S its Car of the Year, Musk called it a “pivotal turn in history” after Tesla’s “long and difficult journey.”
Tesla plans to produce at least 20,000 of the electric car in 2013, the Detroit News reported.