Tesla looks to expand market for high-performance electric car

Tesla Motors Inc. has sold hundreds of electric sports cars to American customers, and is now looking to Canada, Europe, and beyond in search of new markets.

A showroom was recently opened in London, England, and the first car for a European customer will be delivered later this month. A Tesla showroom will also open soon in Toronto as the company predicts even greater revenue figures in the future.

Last week the California-based company reported a $1-million profit based on $20 million of sales, thanks undoubtedly to the backing of famous brands such as Mercedes-Benz and Lotus.

Tesla claims its electric sports car can match any gas-based competitor. The newest Roadster Sport model ($130,000) can travel nearly 400 kilometres after a three-hour recharge, and go from zero to 100 in under four seconds.

About 500 cars have been sold within the United States. Tesla CEO Elon Musk now believes Europe is ripe for a high-performance electric car, and expects" significant deliveries" this quarter.

"The goal from the beginning has always been to go to mass market and to make electric cars that everyone can afford," Musk says.

The company said its first profit was primarily from improved gross margin on the Roadster 2, the second version of its sports car.

A new sports sedan, backed by a near $500-million U.S. government loan, is expected to sell for about half the Roadster once production begins in 2011. It would travel nearly 480 kilometres on one 45-minute charge.

Tesla sells its cars online and at showrooms in Menlo Park, West Los Angeles, New York City, Seattle and London. Besides Toronto, new showrooms are planned for Chicago, South Florida, Washington D.C., Toronto, Munich and Monaco.

With a report from CNN's Jim Boulden