Hyperdrive
Carmakers Go From Shunning Electric Bets to Fueling Tesla Profit
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Automakers that were leery of investing billions in electric vehicles because of the unlikelihood they’d generate returns are now the reason Tesla Inc. just turned another profit.
Revenue from regulatory credits surged to $354 million last quarter, a sum that exceeded Tesla’s $227 million adjusted net income. The maker of the Model 3 sells the credits to manufacturers who need them to comply with emissions standards that are getting stricter in most markets around the world.