Tesla sets revenue record, thanks to pollution credit sales to rivals

Tesla Inc on Wednesday reported its fifth consecutive quarterly profit on record revenue of $8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers.

The electric car maker also affirmed its target to deliver half a million vehicles by the end of this year, a goal that will require it to significantly ramp up vehicle sales in the fourth quarter.

Shares were up 2.5 per cent at $433.88 in extended trade as the carmaker beat analysts' estimates.

Tesla said it had the capacity installed to produce and deliver 500,000 vehicles this year, but added that