The impressive achievement comes as a result of strong sales in July of their Roadster 2, and the company have announced a profit of US1million against US$20million of revenue.

Tesla managed to sell 109 vehicles in July, helping it achieve overall corporate profitability. Tesla CEO Elon Musk said, "We achieved a bottom-line profitability thanks to a tremendous amount of hard work by the Tesla team to improve quality, while simultaneously reducing costs on the Roadster."

He added, "This also shows that there is strong demand for a car that is unique in offering high performance with a clean conscience. Moreover, customers know that in buying the Roadster they are helping fund development of our mass market electric cars."

Tesla hopes that its planned Model S electric sedan, it's first foray into affordable, mass-produced cars, will continue to contribute to the profitability of the company.