Tesla update: Of $11.2 million it "earned" in the first quarter, $85 million was for government bad-weather-preventing etc credits?

Tesla Profit Aided by Sales of California, U.S. Credits - Bloomberg

Tesla Motors Inc. (TSLA)’s first quarterly profit, led by a surge in deliveries of the electric-car maker’s Model S, got an added bump from sales of California and U.S. environmental credits that generated 15 percent of revenue.

Such sales totaled $85 million, the Palo Alto, California-based company said in a May 10 filing. That included California zero-emission vehicle credits of $67.9 million and “other regulatory credits” of $17.1 million, Tesla said. The latter amount, mainly from U.S. rules, wasn’t detailed in the first-quarter earnings on May 8, said Jeff Evanson, a spokesman.

The automaker, led by billionaire Elon Musk, has surplus credits because it sells only electric vehicles, which don’t produce tailpipe emissions. Tesla reported quarterly net income of $11.2 million