Autoblog

Tesla posts $89.9M Q1 loss, Model S coming sooner than expected

Chris Shunk — Thu, 10 May 2012 09:59:00 EST

It seems like we've been hearing about the Tesla Model S for a decade, but a report in Yahoo states that the electric sedan is only a month away from production. That's about one month ahead of schedule, as Tesla is reportedly wrapping up crash testing fast enough to start making the hotly anticipated EV.

The Model S couldn't come at a much better time for Tesla, as the automaker just announced a first quarter loss of $89.9 million. The prospects aren't any better for Q2, but the second half of the year should be an entirely different story. Q1 revenue was only $30 million, and the first half revenue is expected to come in around $60 million. With the Model S around for the second half of the year, sales are expected to skyrocket into the $600 million range. Tesla plans to move about 5,000 units in 2012, even though the automaker currently has 10,000 orders in-hand.

Some of those 10,000 hand-raisers might have something more to get excited about, as Tesla announced that the top range Signature model, which features a 85-kWh battery pack, will be able to travel 320 miles on a two-cycle charge. That's 20 miles more than Tesla previously announced. The first 1,200 copies of the Model S will be Signature models with the largest-possible battery pack.

Tesla posts $89.9M Q1 loss, Model S coming sooner than expected originally appeared on Autoblog on Thu, 10 May 2012 09:59:00 EST. Please see our terms for use of feeds.

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Tesla Model S "almost ready"

Autoblog Staff — Sun, 08 Apr 2012 16:03:00 EST

Filed under: Hatchback, Tesla, Electric

Tesla Motors is close to rolling out the first Model S electric five-doors from the company's Fremont, California plant, and customers who reserved the Model S Signature Series are already sending in their specification requests, indicating that the company will likely hit its July deadline for first deliveries.

Tesla has also added three colors - Piano Black, Lacewood and Banana Leaf - to its interior options and Internet connectivity will be an option on all cars, the company said in a letter to prospective customers that was posted on its blog last week. Tesla also said it would personally deliver the cars to the location of the customer's choice.

The Model S, the second model from Tesla after the Roadster, will be priced starting at $57,400 for a version with a 160-mile single-charge range before the $7,500 tax credit goes into effect. A 300-mile-range version goes for about $77,000. Read here for Autoblog's "First Ride" impressions.

Earlier this year, Tesla said 2012 sales may triple last year's revenue of $204.2 million and forecast Model S sales at 5,000 units for this year. That's more than double the 2,100 of the $109,000 Roadsters that Tesla sold over the past four years.

Tesla Model S "almost ready" originally appeared on Autoblog on Sun, 08 Apr 2012 16:03:00 EST. Please see our terms for use of feeds.

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Tesla Roadster facing 'brick' battery problems?

Sebastian Blanco — Wed, 22 Feb 2012 16:30:00 EST

Filed under: Convertible, Performance, Safety, Technology, Tesla, Electric

Here's a new worry for electric car owners: bricking your new, expensive ride.

Using a word taken from the computer world, to "brick" an EV means to make your electronic device inoperable. In the case of an EV, it would mean to run the battery state of charge so far down that nothing works anymore, thus requiring an expensive flatbed tow and an even more expensive battery pack - about $40,000 in a Tesla Roadster.

This is the charge of Michael Degusta, who wrote a detailed post on the matter in which he claims there have been five cases of Roadsters being bricked that he knows about. Since this is the first we've heard about it (and we imagine all those Silicon Valley Roadster owners know a thing or two about Internet communication), we're surprised we didn't hear about this before the alleged problem claimed five non-working cars. Thus, we figure there's more to the story, especially since some people are already poking holes in some of Degusta's statements. We've emailed Degusta and asked him to provide further proof of and details about these bricked cars, but he has not responded yet.

For its part, Tesla has offered AutoblogGreen a fairly noncommittal statement on the matter:

All automobiles require some level of owner care. For example, combustion vehicles require regular oil changes or the engine will be destroyed. Electric vehicles should be plugged in and charging when not in use for maximum performance. All batteries are subject to damage if the charge is kept at zero for long periods of time. However, Tesla avoids this problem in virtually all instances with numerous counter-measures. Tesla batteries can remain unplugged for weeks (even months), without reaching zero state of charge. Owners of Roadster 2.0 and all subsequent Tesla products can request that their vehicle alert Tesla if SOC falls to a low level. All Tesla vehicles emit various visual and audible warnings if the battery pack falls below 5 percent SOC. Tesla provides extensive maintenance recommendations as part of the customer experience.

It's also true that all vehicles will require some attention if they sit unused too long, and people know what happens if you leave your laptop unplugged for two weeks. In the owner's manual for the Roadster 2.0/Roadster Sport, Tesla does say that "Over-discharge can permanently damage the Battery" and that "If storing for more than 15 days, it is strongly recommended that you keep it plugged in" (see the full section on "Leaving the vehicle unplugged" after the jump, or download the manual in PDF here), but it doesn't specify what sort of damage that is, or how expensive it might be to fix it. Tesla spokesman Ricardo Reyes did tell AutoblogGreen that he is working to demystify the situation and will get back to us with more information.

Continue reading Tesla Roadster facing 'brick' battery problems?

Tesla Roadster facing 'brick' battery problems? originally appeared on Autoblog on Wed, 22 Feb 2012 16:30:00 EST. Please see our terms for use of feeds.

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Tesla takes 500 Model X reservations worth $40M, Model S sales also spike

Autoblog Staff — Wed, 15 Feb 2012 10:33:00 EST

Filed under: Crossover, Tesla, Electric

If the prevailing opinion of a new design can be judged by initial sales, then the jury is in on the Tesla Model X. They like it. They really, really like it. From the time the electric crossover was driven out on stage at Tesla Design Studios late Thursday night/early Friday morning until Valentine's Day four days later, the company says it has received over $40 million worth of reservation love.

What that means is that over 500 people have plunked down a significant amount of cash - $5,000 for regular production version or $40,000 for a Signature package - to reserve a vehicle that won't even begin serious production until 2014. Think about that for a moment. Nobody, except a lucky few employees, has even driven the X prototype. Hell, barely anyone has ever taken the wheel of the Model S, with which it shares its platform.

While some of the orders did come from people switching their Model S reservation to the X, Tesla says sedan sales weren't cannibalized. In fact, the company says, sales of the S saw a boost of 30 percent following the big event.

Another indication of sentiment for publicly traded companies like Tesla Motors (TSLA) is its stock price. If you panicked and sold off shares a month ago when the price plunged 20 percent on news of the departure of a couple personnel, you may want to begin kicking yourself now. (Go ahead, we'll wait.) From that $22.79 low, it has climbed to $33.17 (as of this writing). Now, we're not financial experts, but that would seem to indicate that the market likes the company's outlook.

Make your way past the break to read the press release and, if you were unable to see the live presentation of the Model X on Tesla's website, we have that official footage waiting there as well.

Continue reading Tesla takes 500 Model X reservations worth $40M, Model S sales also spike

Tesla takes 500 Model X reservations worth $40M, Model S sales also spike originally appeared on Autoblog on Wed, 15 Feb 2012 10:33:00 EST. Please see our terms for use of feeds.

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Tesla announces pricing, options and battery specs for 2012 Model S

Damon Lavrinc — Tue, 20 Dec 2011 19:28:00 EST

Filed under: Sedan, Tesla, Electric

Tesla will deliver its first Model S next summer, and the up-start automaker has just released official pricing details on its all-electric sedan, along with options and battery specs.

Pricing for the Model S is broken down depending on battery capacity and the resulting range, with the 160-mile version commanding $57,400, the 230-mile variant priced at $67,400 and the 300-mile Model S coming in at $77,400. There's also the $87,400 Perfomance model which has the same 85-kWh battery as the 300-mile version. It's worth noting that if you check the new Model S page, Tesla lists pricing after the $7,500 federal tax credit, which is a bit disingenuous, but to Tesla's credit, it has kept pricing perfectly in line with previous announcements.

The battery specs have also been officially announced, with the 40-kWh pack providing a 160-mile range, a top speed of 110 miles per hour and a 100,000-mile warranty; the 60-kWh pack juicing up for 230 miles, a 120 mph top speed and a 125,000-mile warranty; and finally, the aforementioned 85-kWh battery pack delivering 300 miles of range and a 125 mph top speed in standard spec and a 130 mph top speed in the Performance version. The last two come with an unlimited mileage warranty and Tesla makes a point to clarify that ranges are based on an average speed of 55 mph.

Standard kit includes 19-inch wheels and that awesomely massive 17-inch touchscreen display in the dash, while 19-inch aerodynamic wheels that boost range by another 20 miles are optional and come in at $1,500. If you're so inclined, you can opt for 21-inch hoops ($3,500), metallic paint ($750), panoramic roof ($1,500), Nappa leather ($1,500), air suspension ($1,500) and the $3,750 Tech Package which includes back-up camera, a power hatchback and keyless entry. You can also option up for an upgraded onboard charger good for 20 kilowatts and an additional 62 miles of range per hour ($1,500), along with a high-power wall connector for the custom charging system that will set you back $1,200.

Start speccing your own at the 2012 Model S build page and check out Tesla's official statement here.

Tesla announces pricing, options and battery specs for 2012 Model S originally appeared on Autoblog on Tue, 20 Dec 2011 19:28:00 EST. Please see our terms for use of feeds.

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Bob Lutz: "I honestly think Tesla's going to make it."

Sebastian Blanco — Fri, 11 Nov 2011 17:32:00 EST

Filed under: Tesla

Back around 2006, GM's Bob Lutz was spurred to action by Tesla Motors. Unable to get The General to move forward on a plug-in car, he pointed to the California start-up as a reason to get the Chevy Volt project going. This is all made pretty clear in the Revenge of the Electric Car movie, which is opening in theaters nationwide this fall. In a new interview with the San Francisco Chronicle, Lutz describes how Toyota also played a big role in getting the Volt on the road: he didn't want GM to fall behind in the public eye.

The key point is that Lutz doesn't get behind plug-in cars for their fuel efficiency or environmental reasons - he's famously said that global warming is a crock of sh*t and that a CAFE standard of 42 mpg is "totally ridiculous" - but he can still strongly support them. This is because they can be good cars. Plain and simple. Speaking to the Chronicle, Lutz said that Tesla's long-term prospects are uncertain but that:

[Tesla's] stock's doing well and everyone's got a buy on it. Meanwhile, they're losing a ton of money. My philosophy always is, if you have a desirable product, you can muddle your way past the financial problems. Elon Musk and the team were smart enough to get, without question, some of the world's finest designers on the Model S. The car is so beautiful that you look at it and say, "I don't care what drives it, I just want one." That's really the secret of this business. I honestly think they're going to make it.

Lutz and Musk were both interviewed on Charlie Rose last night, and you can watch that video here.

Bob Lutz: "I honestly think Tesla's going to make it." originally appeared on Autoblog on Fri, 11 Nov 2011 17:32:00 EST. Please see our terms for use of feeds.

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Musk says Tesla Model S sold out

Chris Shunk — Tue, 01 Nov 2011 13:01:00 EST

Filed under: Sedan, Plants/Manufacturing, Earnings/Financials, Tesla, Electric

About a month ago we reported that 1,500 Model S buyers showed up at the Tesla NUMMI plant to see firsthand the progress being made at the automaker's new California factory. Many of those buyers even got the chance to drive pre-production beta models of the Model S. It's the least Tesla could do to ease the minds of buyers who have already dropped $5,000 for a vehicle that won't arrive for another year. Now we know that those 1,500 buyers are but a fraction of overall early orders.

Tesla CEO Elon Musk has just announced that the Model S is completely sold out for 2012, with 6,500 models already accounted for. Bloomberg reports that Musk gave the update on pre-sales during an interview on "In The Loop With Betty Liu." Musk added that most of those buyers were new to the Tesla brand, save for about 600 Roadster owners. That's a lot of potential good news for Tesla, and Musk wasn't finished. The tech startup mogul also added that Tesla could see an annual profit by 2013 - a lot quicker than many analysts expected.

News of Tesla's pre-sale orders and the prospect of short-term profits helped jump-start shares of the EV company's stock by 3.9 percent.

Musk says Tesla Model S sold out originally appeared on Autoblog on Tue, 01 Nov 2011 13:01:00 EST. Please see our terms for use of feeds.

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First Ride: 2012 Tesla Model S Beta

Damon Lavrinc — Tue, 04 Oct 2011 19:58:00 EST

Filed under: Hatchback, Tesla, Electric

Tesla had a big weekend. Some 1,500 Model S hand-raisers and their +1s descended on the company's recently acquired NUMMI plant in Fremont, CA to see where their $5,000 deposits have gone. The event, which served as both a product extravaganza and a subtle reassurance, sought to prove that the Model S is well on its way to production. And part of the program included rides in three Model S betas.

As Tesla was keen to point out, showing off a prototype - even one that's 80-percent complete - is relatively unheard of in the industry. Regardless, the EV upstart invited a handful of journalists to go for a brief spin in the passenger seat of the betas. How brief? Less than five minutes.

So... don't expect to find any mind-blowing revelations, 10/10ths impressions or thorough interior dissections. Here's all you need to know: It drives, it steers, it stops, it's practically - and predictably - silent and the interior tech is enough to make gadget nerds forget about the lack of an iPhone 5.

Continue reading First Ride: 2012 Tesla Model S Beta

First Ride: 2012 Tesla Model S Beta originally appeared on Autoblog on Tue, 04 Oct 2011 19:58:00 EST. Please see our terms for use of feeds.

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Tesla Model S Sport to rival BMW M5, 0-60 mph in 4.5 seconds

Autoblog Staff — Mon, 03 Oct 2011 10:02:00 EST

Filed under: Technology, Hatchback, Tesla, Electric

A high-performance version of the zero-emissions Tesla Model S sedan will reportedly be available immediately from the vehicle's launch in 2012, giving Tesla a rival to the ultimate of Ultimate Driving Machines: the BMW M5.

Tesla chief executive officer Elon Musk reportedly confirmed the Model S Sport launch alongside the unveiling of the near-production-ready electric sedan at an exclusive event for Model S reservation holders in Silicon Valley, CA.

According to Green Car Reports, Musk says the $80,000 high-performance version of the Model S will be offered with a battery pack sized at 85-kWh to give the sedan a 300-mile range. The Sport version will come equipped with enhancements that cut its 0 to 60-mph time from 5.5 to somewhere between 4.4 and 4.6 seconds.

Additionally, Musk confirmed the Model S will be offered with optional aerodynamic wheels, boosting range to 320 miles. Tesla's CEO stated:

People were skeptical about whether we could build an electric car with a 300-mile range. And we've gone and made one with a 320-mile range.

Tesla has also promised to equip the Model S with seating for up to seven and by fitting the sedan with a battery pack that can be swapped out by Tesla at suitable sites along major freeways. All to please Wall Street Journal scribe Dan Neil.

In closing, Musk stated:

The goal with the Model S was to build the best car, not just the best electric vehicle. It can seat seven, has got two boots, a really low center of gravity; no-one thought any of this was possible. I'm proud of this car and it's a revolution that I hope the rest of the industry will follow.

We like it, too. In our humble opinion, the Model S seems set to become the world's most spectacular zero-emissions vehicle. We'll know more when the car actually hits the road, but it sure looks good "on paper."

Tesla Model S Sport to rival BMW M5, 0-60 mph in 4.5 seconds originally appeared on Autoblog on Mon, 03 Oct 2011 10:02:00 EST. Please see our terms for use of feeds.

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Tesla asks for another loan from the Feds

Chris Shunk — Mon, 26 Sep 2011 18:29:00 EST

Filed under: Government/Legal, Tesla, Electric

We haven't heard much from Tesla of late, but that may be because the upstart electric car maker is hard at work getting the Model S to market, as promised, before the end of 2012. The Model S itself is the product of a $465 million loan from the U.S. Department of Energy, but that's not the last round of loans Tesla has its sights set on.

SF Gate reports that Tesla has asked the DoE for another loan. Tesla spokeswoman Khobi Brooklyn reportedly confirmed that the loan application was completed, adding that the money would be used "in our continued mission to make more affordable electric vehicles." Tesla hasn't yet detailed the amount of money that has been requested, nor has it indicated if specific models would be built with the money.

The confirmation of a DoE loan request comes one week after Tesla defended the DoE's $25 billion clean energy loan program in the wake of the Solyndra solar panel bankruptcy scandal. Tesla points out that the Tesla loan resulted in 1,000 jobs and another 1,000 expected in the year ahead.

Tesla asks for another loan from the Feds originally appeared on Autoblog on Mon, 26 Sep 2011 18:29:00 EST. Please see our terms for use of feeds.

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Elon Musk bets Dan Neil $1 million he can get Tesla Model S out on time

Sebastian Blanco — Fri, 26 Aug 2011 15:59:00 EST

Can a million dollars hold Elon Musks' feet to the fire? That's the value of a bet that Wall Street Journal auto journalist and all-around interesting guy Dan Neil and the Tesla Motors CEO reportedly have going over the release of the upcoming Model S.

According to Green Car Reports, the bet hinges on Neil's 2009 comment that the Model S is "ambitious" and that Musk's promised delivery date of late 2012 was, "an audacious timeline that makes many in the car industry roll their eyes." Musk, also a bit of a boisterous one, apparently emailed Neil in 2009 to say: You wanna bet? The exact emails have apparently been lost, but GCR says the details, according to Neil, are as follows. For Musk to win, the Model S:

Needs to start series production and be delivered to the first paying customers by the end of 2012.
Have to be certified by NHTSA with a four- or five-star safety rating and it has to have seven seats.
Needs to be priced at $57,400 (for the base model with the 160-mile range), $67,400 (230 miles) and $87,400 (300 miles).

These are all targets that Tesla itself announced, so Neil is simply asking the company to follow through on its promises. There is one final sticking point, and for this we'll quote GCR directly:

[The Model S] has to have a battery pack that allows en-route swapping at a highway roadside station, similar to the Better Place battery swapping scheme.

We hope, for Musk's sake, that someone got their wires crossed here. As far as we know, the Model S was never supposed to have Better Place-style batter swap capability. Instead, the plan has always been, "When [Model S drivers] take an occasional two-way long distance trip, they'll get a replacement pack and then pick up their original one on the way back," with the swaps done at Tesla dealerships.

We have to assume Musk would like this clarified, too, since Neil claims that Musk will have to donate a million dollars to Médecins Sans Frontières (Doctors Without Borders) if Tesla doesn't hit these targets. If Neil loses, he's willing to donate a more modest, journalist-level $1,000 to MSF. Which side of the bet would you rather be on?

Elon Musk bets Dan Neil $1 million he can get Tesla Model S out on time originally appeared on Autoblog on Fri, 26 Aug 2011 15:59:00 EST. Please see our terms for use of feeds.

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Together at last - Tesla Model S and Roadster hit the road

Autoblog Staff — Sat, 13 Aug 2011 18:01:00 EST

Filed under: Convertible, Sedan, Performance, Videos, Tesla, Electric

Plug your ears and keep your eyes glued to the screen. What we present here is rare footage of a Tesla Model S and a Tesla Roadster side-by-side on a picturesque, chicane-filled road. The music, in typical Tesla fashion, drowns out any automotive noise, including the wondrous whirring that emanates from these magnificent machines as they whiz on down the road.

So, here's what we'd suggest: plug your ears and imagine those sounds echoing off the nearby hills as the Roadster and Model S strut their electric stuff. Realize, too, that these electric machines are pricey and that the cost of owning one, at least for most of us, is beyond reach. At least the video if free (if, perhaps, not yet supposed to be viewable, says Green Car Reports). Hit the jump to check out the dreamy duo of Teslas in their side-by-side brilliance out on the open road.

Continue reading Together at last - Tesla Model S and Roadster hit the road

Together at last - Tesla Model S and Roadster hit the road originally appeared on Autoblog on Sat, 13 Aug 2011 18:01:00 EST. Please see our terms for use of feeds.

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New pictures of Tesla Model S Alpha show sleeker, more refined look

Sebastian Blanco — Mon, 06 Jun 2011 10:56:00 EST

Filed under: Sedan, Tesla, Design/Style

Tesla Model S Alpha - Click above for high-res image gallery

Tesla Motors has put up some new pictures of the Tesla Model S Alpha, and its gorgeous new model looks more production-ready than ever.

The changes we can see are subtle, but compared to the prototype, the Model S now sports a different lower fascia. The new look seems slightly more aggressive and angular compared to the prototype's rounded appearance, especially the accents under the headlights. The vents(?) above the front wheel wells also appear to have been made smaller, making the car even more sleek.

What changes do you see? (Check out a gallery of the original prototype here.) Thanks to Ben C. for the tip!

Gallery: Tesla Model S Alpha

[Source: Tesla]

New pictures of Tesla Model S Alpha show sleeker, more refined look originally appeared on Autoblog on Mon, 06 Jun 2011 10:56:00 EST. Please see our terms for use of feeds.

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Tesla lets us peek in on Model S development

Damon Lavrinc — Mon, 21 Mar 2011 14:57:00 EST

Filed under: Plants/Manufacturing, Technology, Hatchback, Tesla, Electric

Tesla Model S Development Facility - Click above for high-res image gallery

It's not every day that an automaker invites you inside its R&D center. In fact, it's rare for any OEM to allow journalists into a room that hasn't been swept floor-to-ceiling for any hint of what's around the corner. Then again, Tesla isn't exactly your average automaker.

The electric upstart, with its roots firmly entrenched in the Wild West idealism of Silicon Valley, is in the process of developing and testing its all-new electric sedan - the Tesla Model S - before series production begins next year. So in the Valley's spirit of openness and transparency, Tesla threw open its doors, corralled a few engineers and execs, and let us poke around its Palo Alto powertrain facility to see how development of the Model S is coming along.

Gallery: Tesla Model S Development Facility

Continue reading Tesla lets us peek in on Model S development

Tesla lets us peek in on Model S development originally appeared on Autoblog on Mon, 21 Mar 2011 14:57:00 EST. Please see our terms for use of feeds.

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Tesla Model S Update: Pricing to start from $57,000 before credits

Jeff Glucker — Tue, 08 Mar 2011 10:27:00 EST

Filed under: Sedan, Plants/Manufacturing, Tesla, Electric

Tesla Model S - Click above for high-res image gallery

Tesla recently held a celebration in honor of its newest store, located in Milan, Italy. At the event, customers and company-folk mingled while chatting about their favorite electric car company. One of the key talking points was the upcoming Model S, and Tesla took the opportunity to answer a few questions.

Deliveries of the North American-market Tesla Model S are scheduled to begin in the mid-2012. The first 1,000 vehicles peeled off the assembly line will be Signature Series cars, which means they're fitted with 300-mile range batteries and identifying options. Once the Signature Series run has been sold, Tesla will continue to produce 300-mile range cars while optional 230-mile and 160-mile Model S sedans will follow later in the year.

The base 160-mile range Tesla Model S will start at $57,000, but a $7,500 tax credit will cut that price to $49,500. Stepping up to the 230-mile range Model S will add $10,000 to the bottom line. The range-topping 300-mile Model S adds $20,000 to the base price. Tesla plans to produce 5,000 units in 2012 before going full-tilt in 2013 with a 20,000 vehicle production run.

Not limited to just the North American market, Tesla will being selling the Model S in Europe during the latter half of 2012. By the middle of 2013, the company will have a right-hand-drive version for the rest of Europe and Asia. Those launches will also features the Signature Series edition.

Gallery: Tesla Model S in motion

[Source: Tesla]

Tesla Model S Update: Pricing to start from $57,000 before credits originally appeared on Autoblog on Tue, 08 Mar 2011 10:27:00 EST. Please see our terms for use of feeds.

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Tesla Model S begins first phase of road testing [w/video]

Sebastian Blanco — Tue, 18 Jan 2011 18:57:00 EST

Filed under: Sedan, Videos, Tesla, Electric

Tesla Model S road testing - Click above to watch the video after the break

The last time Tesla Motors released a video about the Model S, it was a lot of talking from the company's vice president and chief engineer for vehicle engineering, Peter Rawlinson, about engineering the vehicle. Today, new video shows just the opposite. No talking, just pretty pictures.

Almost eerily silent, the video shows the first Alpha build Model S (tons of details on the car here) cruising down rural roads, and it's a beautiful sight. The car looks like it handles well and makes us the need to get behind the wheel yesterday. Tesla's Vehicle Dynamicist (we're guessing thats fancy talk for test driver?) Graham Sutherland said in a statement that:

The first Alpha is amazingly agile for a car of its size. It has great handling balance and poised ride with communicative steering. Just goes to show what combining a low center of gravity with a very stiff body structure can achieve.

Sounds - and looks - good. Let's hope it gets better. Watch the video after the jump.

[Source: Tesla]

Continue reading Tesla Model S begins first phase of road testing [w/video]

Tesla Model S begins first phase of road testing [w/video] originally appeared on Autoblog on Tue, 18 Jan 2011 18:57:00 EST. Please see our terms for use of feeds.

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Report: Tesla says Model S to go on sale in Q2 of 2012

Jeff Glucker — Wed, 12 Jan 2011 09:00:00 EST

Filed under: Car Buying, Sedan, Electric

Tesla Model S - Click above for high-res image gallery

More than 3,000 people have raised their hand to proclaim they want a Tesla Model S, and their long wait for an electric sedan is nearing an end - delivery of the four-door will reportedly begin in the second quarter of 2012. The price of the Model S will lie somewhere between $49,000 and $60,000 and Tesla is planning on an annual production run of 20,000 units.

The Tesla Model S is a rear-wheel drive, four-door electric sedan powered by 7,000 lithium-ion batteries. With the cost of batteries coming down over time, Tesla expects to turn a tidy profit from Model S sales.

Gallery: Tesla Model S in motion

[Source: Automotive News - sub. req.]

Report: Tesla says Model S to go on sale in Q2 of 2012 originally appeared on Autoblog on Wed, 12 Jan 2011 09:00:00 EST. Please see our terms for use of feeds.

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Report: Tesla says Model S will be profitable thanks to cheaper batteries

Sebastian Blanco — Sun, 02 Jan 2011 13:45:00 EST

Filed under: Sedan, Technology, Earnings/Financials, Tesla, Electric

Tesla Model S - Click above for high-res image gallery

It's not exactly a surprise that battery costs for electric vehicles will go down over time, but the big question is by how much and how fast. Tesla Motors, which uses small lithium-ion cells similar to the kind found in laptop computers, believes that lithium-ion pack costs will be low enough to make the $57,000 Model S profitable even though it'll likely sell in smaller numbers than all-electric competitors like the Nissan Leaf.

That's what Tesla's chief technology officer J.B. Straubel told Bloomberg, adding that Nissan has "a cost challenge that will be more difficult to solve. It will require a lot higher volume before they really get to a cost point that is internally sustainable." Nissan, of course, paints a different picture because it has been developing li-ion technology for almost two decades, but there you have it.

Nissan's annual sales target for the Leaf, once full production gets going, is in the hundred-thousands, while Tesla hopes to sell around 20,000 units of the Model S a year. The big difference is in the price per kilowatt hour (kWh). Tesla co-founder Martin Eberhard told Bloomberg recently that he thinks Tesla's battery packs might cost just $200 per kWH, while the large-format cells in the Leaf (and most other plug-in vehicles) could cost around $700 to $800 per kWh. Nissan has previously said the Leaf pack costs just under $750 per kWh.

[Source: Bloomberg]

Report: Tesla says Model S will be profitable thanks to cheaper batteries originally appeared on Autoblog on Sun, 02 Jan 2011 13:45:00 EST. Please see our terms for use of feeds.

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Tesla SEC filing reveals Model S has 3,000 deposits

Autoblog Staff — Sat, 18 Dec 2010 10:33:00 EST

Filed under: Sedan, Government/Legal, Hatchback, Earnings/Financials, Tesla, Electric

In an 8-K filing posted with the U.S. Securities and Exchange Commission yesterday, Tesla Motors revealed that, by the end of the third quarter, it had already lined up 3,000 buyers, each of whom has coughed up $5,000 required to reserve the automaker's long-promised Model S. Additional information mentioned in the report suggests that the Model S will eventually obtain a five-star safety rating, feature more cargo room than any other sedan on the market and be designed to accommodate battery-swap technology.

The SEC filing details Tesla's numerous deals with other automakers, which are briefly outlined below:

Tesla received an initial order for 1,500 lithium-ion battery packs for the Smart ForTwo ED
Tesla anticipates selling 500 lithium-ion battery packs to Daimler for use in the Mercedes-Benz A-Class electric.
The automaker's cumulative sales to Daimler topped the $12-million mark earlier this year.
Tesla expects revenue of $60 million for its part in developing components for the Toyota RAV4 EV.

To read Tesla's 8-K SEC filing, which is jam-packed with graphics that detail the automaker's intentions, click here.

Gallery: Tesla Model S

[Source: Securities and Exchange Commission via Tesla Motors]

Tesla SEC filing reveals Model S has 3,000 deposits originally appeared on Autoblog on Sat, 18 Dec 2010 10:33:00 EST. Please see our terms for use of feeds.

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Tesla reports second-quarter loss of $38.5 million

Autoblog Staff — Thu, 05 Aug 2010 16:58:00 EST

Filed under: Earnings/Financials, Tesla

Tesla Model S - Click above for high-res image gallery

Tesla has reported its first earnings statement as a public company and, not surprisingly, the numbers don't exactly paint a rosy portrait. The company announced that while it managed to bring in revenue around $28.4 million, it lost $38.5 million. That loss marks the second such dip in earnings for the company this year, though analysts are saying that the drop in cash flow is to be expected. The company just handed over $42 million to purchase a manufacturing facility for the Model S, and odds are the company will continue to funnel money into the structure as we get closer to the EV sedan's production date.

Speaking of the Model S, it's likely that a fair portion of the company's funds are being shoveled into development of this second Tesla model. With those two hefty projects on the company's plate, odds are we won't see the electric vehicle manufacturer turn a profit for some time - possibly until after the end of this year. The news doesn't seem to have had too much of a negative impact on the company's stock price, though. As of this writing, TSLA stock was still at $20.18 - down around a dollar from opening.

Gallery: Tesla Model S in motion

[Source: Automotive News - sub. req.]

Tesla reports second-quarter loss of $38.5 million originally appeared on Autoblog on Thu, 05 Aug 2010 16:58:00 EST. Please see our terms for use of feeds.

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