DOE, electric vehicles, tesla, toyota

Tesla Posts $50 Million Loss; Toyota Withdraws Support

By Institute for Energy Research —— Bio and Archives--May 16, 2014

Global Warming-Energy-Environment | Comments | Back To Full Article

Tesla Motors, an electric car maker backed by the U.S. Department of Energy (DOE), posted a $49.8 million loss in the first quarter of 2014. This loss compared to a profit of $11.2 million in the same period a year earlier despite selling more cars.(i) Last year’s profit was not due to electric car sales, but to sales of California zero-emission-vehicle environmental credits to other auto manufacturers. Those lucrative credits have declined and tight battery supply has made it harder to produce the carmaker’s electric vehicles.

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