Autoblog

Autoblog Podcast #308

Dan Roth — Tue, 13 Nov 2012 17:29:00 EST

Filed under: Podcasts, BMW, Ford, Honda, Infiniti, Volvo, Tesla

Motor Trend Car of the Year, 2013 Honda Civic, 2014 Ford Mustang, Global Ford Ranger wins award

Episode #308 of the Autoblog Podcast is here, and this week, Dan Roth, Zach Bowman and Jeff Ross talk about the Tesla Model S being named Motor Trend Car of the Year, the 2013 Honda Civic and the new hybrid systems and Micro Commuter concept also coming out of Honda, the 2014 Ford Mustang and the departure of the Boss 302, and the global Ford Ranger winning an International Truck award. For those of you who hung with us live on our UStream channel, thanks for taking the time. Keep reading for our Q&A module for you to scroll through and follow along, too. Thanks for listening!

Autoblog Podcast #308:

Topics:

In the Autoblog Garage:
2013 Volvo S80 T6 AWD Inscription
2013 BMW 640i Gran Coupe
2013 Infiniti FX37

Hosts: Dan Roth, Zach Bowman, Jeff Ross

Runtime: 01:17:54

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Autoblog Podcast #308 originally appeared on Autoblog on Tue, 13 Nov 2012 17:29:00 EST. Please see our terms for use of feeds.

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In deep with Tesla CEO Elon Musk: Financials, Falcon doors and finding faults in the Model S

Sebastian Blanco — Fri, 07 Sep 2012 12:03:00 EST

Filed under: Etc., Tesla

Tesla Motors Elon Musk spends about half his working life - i.e., almost all of his waking hours - in his office at SpaceX in Los Angeles. The automotive CEO is, after all, also in charge of the rocket company, which means that he's thinking about a lot more than just ramping up production of the Model S. But he is thinking about that a lot, too. More than you might expect.

AutoblogGreen recently got to sit down with Musk at SpaceX for a one-on-one, wide-ranging interview. Musk, comfortable and relaxed in an "Occupy Mars" t-shirt, was forthcoming about most things we asked - but questions about Tesla's upcoming Supercharger network of fast chargers, which can deliver so much more juice per minute than any other plug-in vehicle charger on the market, were deflected, since the company is planning a big announcement at the end of this month or early October - and we got into Tesla's financial situation, why the Model X has those falcon doors and how Daimler saved Tesla. We learned a lot, including that Musk really doesn't like the rear seat access in the Audi Q7. Not one bit.

Read the whole interview below.

Continue reading In deep with Tesla CEO Elon Musk: Financials, Falcon doors and finding faults in the Model S

In deep with Tesla CEO Elon Musk: Financials, Falcon doors and finding faults in the Model S originally appeared on Autoblog on Fri, 07 Sep 2012 12:03:00 EST. Please see our terms for use of feeds.

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Developer sues Tesla over aborted New Mexico Model S plant

Autoblog Staff — Fri, 03 Aug 2012 18:00:00 EST

Filed under: Government/Legal, Plants/Manufacturing, Earnings/Financials, Tesla

New Mexico may be The Land of Enchantment, but at least one developer from the state is less than charmed with Tesla Motors.

The electric-vehicle maker has been sued by Rio Real Estate Investment Opportunities for what the developer says was an agreed-upon deal for Tesla to produce its Model S battery-electric sedan in New Mexico, according to website Gigaom.

Tesla allegedly reached an agreement in early 2007 to have Rio Real Estate build a 150,000-square-foot factory and lease it out to the automaker for $1.35 million a year for 10 years. Instead, Tesla decided to start Model S production in California after reaching an agreement with Toyota in 2010 to make the cars at the old NUMMI Toyota-General Motors joint venture plant in the San Francisco Bay Area. We asked Tesla for comment on the matter, but spokeswoman Shanna Hendriks told AutoblogGreen that the company does not comment on pending litigation.

Tesla, which in June started deliveries of the Model S, said last week that its second-quarter loss widened by 84 percent to $106.5 million because expenses jumped and revenue fell as the company geared up for the car's debut.

Developer sues Tesla over aborted New Mexico Model S plant originally appeared on Autoblog on Fri, 03 Aug 2012 18:00:00 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 Model X to have ... "falcon" doors?

Autoblog Staff — Tue, 07 Feb 2012 09:28:00 EST

Filed under: Crossover, Tesla, Electric

If you've been following the story of the soon-to-be-revealed Tesla Model X, you're likely aware that the all-electric crossover is said to be quicker than a Porsche 911, offer more interior space than an Audi Q7 and come with all-wheel drive (at least as an option). Also, if the teaser image is any indication, it should be pretty svelte.

What you might not know is that the feature likely to garner the most initial attention are its unique doors. Specifically, "falcon" doors. While we suspect front passengers will gain entrance to the vehicle in the traditional way, the rear portals will be decidedly different. CEO Elon Musk intimated as much when he recently tweeted, "The most interesting view of the Model X is really with the doors open."

So, what are falcon doors? Having seen photos of the Model X, Theo O'Neill of Wunderlich Securities explains that they "lift up and fold - like the wing of a bird," pivoting from the top. Apparently, this will help the Model X achieve its "functionality of a minivan" mandate, allowing easy access to attend to child car seats and such.

Though we can really only begin to decide whether this configuration is a stroke of genius or too clever by half after the official reveal on February 9 at 8:00PM, we suspect some of you might already be forming opinions. Feel free to share with the rest of the class in the comments.

Tesla Model X to have ... "falcon" doors? originally appeared on Autoblog on Tue, 07 Feb 2012 09:28:00 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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Court rules Top Gear did not libel Tesla

Autoblog Staff — Thu, 20 Oct 2011 10:00:00 EST

Filed under: Convertible, Performance, Government/Legal, UK, Celebrities, Tesla, Electric

Tesla's libel suit against Top Gear was dealt a crushing blow with London's court ruling that no Top Gear viewer would have reasonably assumed the Tesla Roadster's on-track performance on the show relates to its real-world capabilities.

As you might recall, Top Gear's review of the Roadster concluded by claiming that, "In the real world, it doesn't seem to work" (watch it here). But that's just Top Gear being, well, Top Gear, implies Justice Tugendhat:

In my judgment, the words complained of are wholly incapable of conveying any meaning at all to the effect that the claimant misled anyone. This is because the contrast between the style of driving and the nature of the track as compared with the conditions on a public road are so great that no reasonable person could understand that the performance on the track is capable of a direct comparison with a public road.

The ruling was handed down verbally by Justice Tugendhat before lunch on Wednesday, October 19th. The Tesla versus Top Gear trial will continue as the automaker is suing BBC for five malicious statements made during the Top Gear's 2008 review of the electric Roadster. Tugendhat is expected to return a complete verdict within weeks.

Court rules Top Gear did not libel Tesla originally appeared on Autoblog on Thu, 20 Oct 2011 10:00:00 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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Toyota RAV4 EV production set for Ontario, Canada

Chris Shunk — Fri, 05 Aug 2011 13:32:00 EST

Filed under: Plants/Manufacturing, Crossover, Toyota, Canada, Tesla, Electric

All 2012 RAV4 EV models destined for the U.S. will be manufactured in Ontario, Canada, according to Toyota Motor North America senior vice-president Ray Tanguay.

Speaking on the sidelines of the Center for Automotive Research's Management Briefing Seminars in Traverse City, MI, Tanguay told Ward's Auto: "Yes, we're just going into final details right now. Obviously we're not going to [import it from] Japan - that would make no sense." Tanguay says Toyota's factory in Woodstock, Ontario, current site of production for all U.S.-bound RAV4s, will easily accommodate assembly of the electrified crossover.

The precise on-sale date of the RAV4 EV is, according to Tanguay, "still in negotiation," but Toyota has committed to 2012 for its retail launch. Furthermore, Tanguay says:

"We don't know the spec; we don't know the content. All we know basically is we have an agreement to develop this with Tesla, and we have to assemble that vehicle in North America.

To back up Tanguay's words, Toyota today confirmed that Ontario will be the site of production for the RAV4 EV. For the official press release, click through to the jump.

Continue reading Toyota RAV4 EV production set for Ontario, Canada

Toyota RAV4 EV production set for Ontario, Canada originally appeared on Autoblog on Fri, 05 Aug 2011 13:32:00 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 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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Report: Tesla Model S-based crossover coming to Frankfurt? [UPDATE: Nope]

Jeremy Korzeniewski — Thu, 03 Feb 2011 17:00:00 EST

Filed under: Frankfurt Motor Show, Crossover, Tesla, Electric

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

Up to this point, the only actual vehicle Tesla Motors has offered for sale is the all-electric Roadster. But the Silicon Valley-based automaker has drummed up a ton of interest and money by showing off its next planned product, the Model S sedan. It looks as if that trend will continue, as a report from the fine folks at Car and Driver suggests a new crossover will be shown off for the first time at the Frankfurt Motor Show. This makes some sense, since Tesla CEO Elon Musk has said that we'll get to see the Model X before the end of the year.

Assuming this report is accurate, it's worth noting that the CUV's appearance in Frankfurt will mark the first time Tesla has used a major auto show to introduce a new model - both the original Roadster and the Model S sedan were both unveiled in smaller, private events.

The CUV will be based on the same underpinnings as the Model S sedan, which was designed from the start to allow for future model expansion. C&D speculates the crossover will sport all-wheel drive, though it's not known exactly how such an arrangement will work. It's possible that Tesla will craft a second powertrain unit that will power the front wheels independently of the rears. We'd expect a similar lithium ion battery pack to be used in the CUV as is planned for the sedan.

Following the unveil of the crossover, development of both a coupe and a larger, likely three-row sport utility vehicle will move forward in full force. There's also been talk of a carbiolet and possibly a minivan or MPV. Of course, all of this assumes that the startup automaker, which has partnered up with both Daimler and Toyota, doesn't run out of money before any of these future vehicles come to market. Here's hoping.

UPDATE: According to our sources at Tesla, we won't be seeing the Model X in Frankfurt, but it could debut sometime late this year.

Gallery: Tesla Model S in motion

[Source: Car and Driver]

Report: Tesla Model S-based crossover coming to Frankfurt? [UPDATE: Nope] originally appeared on Autoblog on Thu, 03 Feb 2011 17:00:00 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 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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Report: Tesla Motors share price drops as IPO lock-up period ends

Autoblog Staff — Mon, 27 Dec 2010 17:29:00 EST

Filed under: Earnings/Financials, Tesla, Electric

Tesla Motors (TSLA) shares were hammered hard near the end of last week and are still dropping as word of the expiration of a 180-day post-IPO lock-up agreement continues to make the rounds. Starting today, 75 million Tesla shares, which had previously been subject to a lock-up agreement restricting their sale, will be eligible for registration.

The automaker's recent 10-Q filing with the Securities and Exchange Commission noted that a fall in share price could possibly coincide with the expiration of the 180-day post-IPO lock-up agreement. The filing's actual wording reads:

The market price of our common stock could decline as a result of sales of a large number of shares of our common stock in the market in the future, and the perception that these sales could occur may also depress the market price of our common stock.

Tesla shares are currently listed at $25.44, a drop from the $29.36 that they were trading at in early November and a decline from the $32-plus price recorded near the middle of last week.

[Source: Forbes]

Report: Tesla Motors share price drops as IPO lock-up period ends originally appeared on Autoblog on Mon, 27 Dec 2010 17:29:00 EST. Please see our terms for use of feeds.

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Tesla catches Christmas spirit, gives away hundreds of Roadsters [w/video]

Autoblog Staff — Tue, 21 Dec 2010 07:57:00 EST

Filed under: Toys/Games, Tesla, Electric

Radio-controlled Tesla Roadster - Click above to watch video after the jump

In spite of being busy making deals, preparing the Tesla factory and watching the stock price shoot up, the upstart automaker has still found time to remember the people who helped get it where it is today - it's early adopting, Roadster-buying customers. And to share the good cheer, Tesla is giving them yet another Tesla Roadster.

The beneficiaries of Tesla's largess won't be driving these new battery-powered electrics over the river and through the woods to Grandma's, though. These are radio-controlled Roadsters, which could go some way to reinforcing the notion that this new automobile company has a focus on customers like no other. This is an idea that will serve Tesla well as it moves forward toward a brave new oil-free motoring future. Hit the jump for video of the RC Tesla Roadster getting put through its paces.

[Source: Tesla Motors Club]

Continue reading Tesla catches Christmas spirit, gives away hundreds of Roadsters [w/video]

Tesla catches Christmas spirit, gives away hundreds of Roadsters [w/video] originally appeared on Autoblog on Tue, 21 Dec 2010 07:57:00 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 increased revenue, but loses money on Model S development

Autoblog Staff — Wed, 10 Nov 2010 11:01:00 EST

Filed under: Earnings/Financials, Tesla

Tesla Motors is happy with its third quarter results, which boast a 10 percent increase in revenue from last quarter's $28.4 million to $31.2 million, an improved gross margin of 30 percent from 22 percent previously, and a net loss of $34.9 million compared to its second quarter figure of $38.5 million. While an improvement from just a quarter ago, the large net losses this year stem mostly from development costs associated with the upcoming Model S sedan, which is planned for launch in 2012. R&D costs alone shot up from just $1.3 million in last year's Q3 to $26.7 million this year. According to CEO Elon Musk:

We are very pleased to report steady top-line growth and significant growth in gross margin, driven by the continued improvement in Roadster orders and our growing powertrain business. Roadster orders in this quarter hit a new high since the third quarter of 2008, having increased over 15 percent from last quarter. While some of this is due to seasonal effects associated with selling a convertible during the summer months, we are pleased with the global expansion of the Roadster business and the continued validation of Tesla's technology leadership position evidenced by our new and expanding strategic relationships.

The Palo Alto, California-based electric carmaker continues to work hard in the fourth quarter. October was a busy month that included the company's purchase of the old NUMMI manufacturing plant in Fremont, CA and the signing of a $60 million development deal with Toyota for the electric version of the RAV4. In November, Panasonic invested $30 million in Tesla stock. With the company's strategic partnership with Daimler to develop next-generation battery packs on track, the planned launch of the more affordable Model S in 2012, and the continued growth of incentives being offered by countries around the world for the purchase of electric vehicles, Tesla may just yet prove its doubters wrong.

[Source: MarketWatch]

Tesla reports increased revenue, but loses money on Model S development originally appeared on Autoblog on Wed, 10 Nov 2010 11:01:00 EST. Please see our terms for use of feeds.

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Officially Official: Tesla inks $60M Toyota deal to supply components for RAV4 EV

Autoblog Staff — Thu, 14 Oct 2010 10:32:00 EST

Filed under: Technology, Crossover, Toyota, Tesla, Electric

Toyota RAV4 - Click above for high-res image gallery

In a regulatory filing submitted on Wednesday, Tesla Motors revealed that it has signed a $60 million contract with Toyota to develop electric powertrain components for a battery-powered RAV4. This agreement states that Tesla will develop the battery, power electronics module, electric motor, gearbox and software for the popular crossover. The filing builds upon an earlier announcement when Toyota and Tesla stated their intentions to partner on the development of future electric vehicles.

Tesla's filing with the U.S. Securities and Exchange Commission reads:

On October 6, 2010, Tesla Motors, Inc. ("Tesla") entered into a Phase 1 Contract Services Agreement (the "Agreement") with Toyota Motor Corporation ("TMC") for the development of a validated powertrain system, including a battery, power electronics module, motor, gearbox and associated software, which will be integrated into an electric vehicle version of the RAV4. Pursuant to the Agreement, based on preliminary specifications, TMC will pay Tesla approximately $60 million for the development services to be provided by Tesla. The parties will mutually agree to the final specifications, deliverables and payment amounts and schedule within 60 days of the execution of the Agreement. This amount will be paid in various installments during the term of the Agreement.

Previous reports suggest that a production version of the electric RAV4 should be ready to whiz down the streets by 2012, but we should get a first glimpse of a the RAV4 EV prototype at the Los Angeles Auto Show next month. Hit the jump the read Tesla's formal filing in its entirety. Hat tip to VFX!

Gallery: 2009 Toyota RAV4

[Source: Securities and Exchange Commission]

Continue reading Officially Official: Tesla inks $60M Toyota deal to supply components for RAV4 EV

Officially Official: Tesla inks $60M Toyota deal to supply components for RAV4 EV originally appeared on Autoblog on Thu, 14 Oct 2010 10:32:00 EST. Please see our terms for use of feeds.

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