Tesla Motors announced this week that it will achieve profitability in the first quarter after selling more of its Model S sedans than it previously expected.
The Palo Alto-based electric car manufacturer anounced that it sold 4,750 units of its Model S sedan, 250 more than the 4,500 it had previously predicted.
"I am incredibly proud of the Tesla team for their outstanding work," said Elon Musk, Tesla Motors co-founder and CEO. "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," he added. "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."
The company also announced that it will not produce cars with the smaller-sized 40 kWh (kilowatt hour) battery pack due to lack of demand. The company said that only 4% of customers wanted the smaller battery pack over the 60 kWh pack.
Those that did order it will receive the larger battery, but the car's range will still be limited by software to match the 40 kWh pack. They can upgrade to get longer range at any time.
The company also announced that all 60 kWh cars will be built with Supercharger hardware included. The Supercharger greatly increases the speed at which the cars are able to recharge.