Sounds like there's money to be made in electric cars. Tesla Motors, the U.S.-based electric automaker partially backed by Toyota and Daimler, expects that its revenue may rise by 50 percent in 2011 due to a projected increase in demand for its Roadster and lithium-ion battery packs. This is what Deepak Ahuja, Tesla's chief financial officer, told Bloomberg during a recent conference call, saying "We project revenue to increase about 40 to 50 percent in 2011, to $160 million to $175 million."

On February 15th, Tesla released an annual report indicating that the automaker posted a revenue of $116.7 million in 2010. However, Tesla's 2010 fourth-quarter net loss of $51.4 million is up from the $23.2 million it reported for that same time frame in 2009. The electric automaker chalked up the increased loss to additional investments dished out for the upcoming Model S sedan.

Tesla shares are currently trading at $24.47. This is significantly higher than the IPO price of $17, but still below the mid-December mark of $30-plus per share.

[Source: Bloomberg]

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