During the Third Quarter of 2016, for the first time in over three years Tesla Motors released an earning report in which they actually recorded a profit. This comes about a year after they launched their second model, the Model X, which began deliveries to the public in September of last year.

Additionally, Tesla Motors appears to be planning to launch yet another model launch. The Model 3, a smaller version of vehicle is similar to other smaller vehicles such as a Prius, SMART Car, Fiat, etc..

With the planned production of this, Tesla CEO Elon Musk has now said that they do not even expect to have to raise additional capital for production. He stated that the roll out, “does not require any capital raise for the Model 3 at all.” This fact is a huge factor when looking at the company moving forward, as they now appear to be self sustaining even with these huge launches.

Although Musk stated that this will not be required, this statement coinciding with the very positive earnings report will be a great help should they look to use credit to raise additional funds. Besides Tesla, this should also help with Musk’s other ambitious ventures like SpaceX and SolarCity. Both of these are looking to solve issues in a similar way to Tesla, with Tesla being able to profit it will help very much in order to make those sustainable as well.

This also demonstrates that some of the issues related to Musk’s companies did not appear to hinder revenue in any significant way. A few months ago an individual driving a Model S in autopilot experienced a fatal accident, while they also acquired SolarCity despite their massive liabilities.

With the release of the Model 3 will certainly come a great deal of expansion in the market. The introductory price of this model is expected to be $35,000, about half of the Model S. If this launch is successful, it may set up precedent for the revolutionary car company to release other models that are more affordable for the average consumer.

Overall their numbers only came out to have a profit of about $21.9 million, but their total revenue did double to a total of $2.3 billion. Overall, the stock is up about 4% after the release, this is a significant rise but lower than the initial 6% rise that came immediately after the release.

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