Charts: Without subsidies, Elon Musk’s electric-car startup wouldn’t have rolled this far. jdlasica/Flickr Tesla Motors surprised Wall Street this afternoon, announcing second-quarter profits of $26 million on $405 million in revenue. Since it reported its first modest profit in May, the electric-car company cofounded by billionaire entrepreneur Elon Musk already had seen its share price more than double, and you can expect it to soar even higher when the markets open tomorrow. Many analysts, after all, were expecting Tesla to take a hit. But so far, the company’s profits have relied on government subsidies and initiatives. Tesla’s own accomplishments are impressive. The company, founded in 2004, is selling its all-electric cars as fast as it can produce them, even though the baseline price for a Model S sedan is nearly $70,000. Car and Driver says the Model S is possibly the best car it has ever tested. Musk has built a successful company after years of scraping by low on funds while sinking money into researching and developing amazing cars. To keep reading, click here. Read original article –  Tesla Motors Earns $26 Million in the 2nd Quarter—Thanks to the Government ; ;Related ArticlesIs Keystone XL a Distraction From More Important Climate Fights?Keystone Light: The Keystone XL Alternative You’ve Never Heard of Is Probably Going to Be BuiltThe Rise and Rise of American Carbon ;

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Tesla Motors Earns $26 Million in the 2nd Quarter—Thanks to the Government