Tesla founder Elon Musk says that the company’s Model S sedan has already sold out with more than 6,500 orders, and that Tesla will be profitable in “probably 2013.”
Musk was speaking to Bloomberg Television earlier today.
He said that Tesla does not need any more capital and would not be seeking another government loan — the company got a loan of more than $400 million from the Department of Energy earlier this year — nor raising more money from equity.
Regarding all the investors who are shorting Tesla stock, Musk admitted there are many reasons why Tesla could fail, but he believes that most of the shorts are simply basing their judgment on the fact that there hasn’t been a successful new car company in decades.
He sold some shares at the IPO, but since bought them back “at a premium” and he now owns about one-third of the company.
The best part, though, was his reaction when asked about competition from BYD — the electric car company in which Warren Buffett owns a stake. He simply laughed.
Here’s the video.