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2012 Tesla Model S [w/video]

Michael Harley — Tue, 11 Sep 2012 11:57:00 EST

Filed under: Sedan, Performance, Hatchback, First Drives, Tesla, Electric

Proof That An Impressive Sport Sedan Doesn't Need To Burn Dead Dino Juice

One-hundred years from now, the Smithsonian museum at our nation's capital will host a display of history's most revolutionary automobiles. The collection will include the 1866 Dudgeon steam wagon (one of the earliest self-propelled vehicles), the 1886 Benz Patent-Motorwagen (recognized as the first combustion-powered automobile) and the 1908 Ford Model T (the first automobile mass produced on an assembly line).

Most certainly included, among the dozen or so other pioneering automobiles, will be a 2012 Tesla Model S.

Slightly more than a few years after the first prototype debuted in March of 2009, Autoblog was able to spend an evening with an early production model of the innovative all-electric sedan touted as "the next step to accelerate the world's transition to electric mobility." Much has been said and written about Tesla's enormous undertaking, but we brushed off the hype, ignored the rumors and cut through the layers of misinformation. It was time to drive.

After several inquisitive hours behind the wheel, we were smitten - the Tesla Model S really is the world's first practical, no-compromise, non-combustion automobile.

Continue reading 2012 Tesla Model S [w/video]

2012 Tesla Model S [w/video] originally appeared on Autoblog on Tue, 11 Sep 2012 11:57:00 EST. Please see our terms for use of feeds.

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Tesla hires former Apple retail strategist to revolutionize buying experience

Jeremy Korzeniewski — Thu, 08 Jul 2010 16:40:00 EST

Filed under: Car Buying, Hirings/Firings/Layoffs, Tesla, Electric

Tesla has, if nothing else, crafted a unique automobile in the Roadster. It's electric, very attractive and highly desirable. Up next, assuming all goes according to plan (a rather big assumption, granted), the Model S sedan will be equally special in the global automotive marketplace.

Such machines deserve an equally unique buying experience and the Silicon Valley firm has hired former Apple and Gap Executive George Blankenship to turn that idea into reality as Vice President of Design and Store Development.

Blankenship will go right to work, with his initial projects said to include opening Tesla Stores in Tokyo, Toronto and Washington, DC. For his part, Blankenship sounds ready to take on the project, saying:

Joining Tesla allows me to work with some of the boldest and brightest people on the planet while changing the world for the better. I'm excited to create a retail experience that is as thrilling as my first drive of the Tesla Roadster.

Judging from his past efforts, we are expecting big things from Tesla's retail developments... and it sounds like Elon Musk got a head start on his wish to make his Tesla Stores "a cross between an Apple Store, a Starbucks and a good kitchen."

[Source: Tesla]

Continue reading Tesla hires former Apple retail strategist to revolutionize buying experience

Tesla hires former Apple retail strategist to revolutionize buying experience originally appeared on Autoblog on Thu, 08 Jul 2010 16:40:00 EST. Please see our terms for use of feeds.

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Tesla shares in freefall, now below IPO price

Jeremy Korzeniewski — Wed, 07 Jul 2010 08:39:00 EST

Filed under: Earnings/Financials, Tesla, Electric

After rising 41 percent on the first day of trading, stock in Tesla Motors has been in an alarming freefall. Yesterday, shares of Tesla Motors fell another 16 percent, landing below their initial offering price of $17 each. For those keeping track of such things, company head and largest shareholder Elon Musk's shares are now worth $433 million, a good bit less than their $457 million value after the IPO.

We're clearly not experts on the subject, so we'll tell you what more qualified people have to say. According to Josef Schuster, the Chicago-based founder of IPOX Capital Management LLC, "The company is a great concept with relatively weak fundamentals. Markets are weak and in a weak market right now this is hurting the company even more."

Financial expert Michael Holland explains, "They brought this thing into a market that was not rewarding hype... The stock did get its pop, and now it's plagued by the reality of the marketplace. The reality of the marketplace is that people aren't paying for dreams and visions."

[Source: Business Week, MarketWatch]

Tesla shares in freefall, now below IPO price originally appeared on Autoblog on Wed, 07 Jul 2010 08:39:00 EST. Please see our terms for use of feeds.

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Tesla reportedly raises $226 million with IPO of 13.3M shares *Update

Chris Shunk — Tue, 29 Jun 2010 09:30:00 EST

Filed under: Earnings/Financials, Tesla, Electric

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

A lot of analysts were bullish on Tesla's initial stock offering, and a report from Bloomberg proves that the electric car start-up is a buy with the investors of the world. Tesla reportedly raised $226 million with its IPO, or 13.3 million shares at $17 per. The $226 mil total went above and beyond the high-end figure of $16 per share.

The news has to come as a pleasant surprise for Elon Musk, the company's CEO and largest shareholder. Musk has reportedly spent $70 million of his own personal fortune propping up Tesla while the company's losses mounted. The successful IPO is even more surprising given the fact that the company has yet to turn a quarterly profit and lost a substantial $230.5 million since 2003. Even at the expected median price of $15 per share, Bloomberg data shows that Tesla was valued at 5.5 times its net tangible assets, which doesn't exactly sound terrific. Tesla's IPO was likely helped out by recent investments by Toyota and Daimler, giving the first U.S. automaker IPO in over 50 years some much-needed street cred. Interestingly, Tesla is the first U.S. automaker since the Ford Motor Company to throw its hat into the public stock ring, with the Blue Oval doing so way back in 1956.

Tesla's IPO was considered a bit of a crap shoot given the recent failures of other stock offerings coupled with the fact that the EV maker doesn't have a lot of product to make it an attractive buy. Tesla has managed to sell about 1,000 copies of its pricey roadster, but now that the First-on-the-Block crew has theirs, the battery-packed two-seater isn't exactly flying off the shelves. The Model S sedan, which will reportedly go 160 miles on a single charge, won't arrive until 2012 at the earliest.

*UPDATE: Shares are now trading some 40% higher than they initially traded at. Read the full story here.

Gallery: Tesla Model S in motion

[Sources: Bloomberg via BusinessWeek]

Tesla reportedly raises $226 million with IPO of 13.3M shares *Update originally appeared on Autoblog on Tue, 29 Jun 2010 09:30:00 EST. Please see our terms for use of feeds.

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BREAKING: Tesla shows future products in IPO road show, liquid-cooled motor and electronics

Autoblog Staff — Mon, 21 Jun 2010 15:40:00 EST

Filed under: Convertible, Minivan/Van, Sedan, Performance, Crossover, Hatchback, Earnings/Financials, Tesla, Electric, Luxury

Tesla future models - Click above for more slides from the road show

The long-delayed initial public offering for Tesla Motors is expected to happen as early as next week. Naturally, then, company CEO Elon Musk now has to go out and sell it. One of the last steps before the stock's on-sale date is the Road Show, where executives go before the mavens of Wall Street to convince them of the value of the company.

Slide #19 of Musk's Powerpoint gives us the first glimpse of what might come after the Model S, which includes a cabriolet, van and crossover. All will be built on a common platform with the Model S and will mount the battery pack under the floor in a similar manner to the Nissan Leaf. The cabriolet, in particular, is quite the stunner and should provide a real competitor to the Fisker Karma Sunset.

Among the other changes that Musk revealed are liquid-cooled power electronics and motor starting with the Model S. While this will add to the cost and complexity of the powertrain, it should help improve the overall efficiency and overcome some of the limiting factors that were found late in the development of the Roadster. The full Tesla prospectus is available here and you can watch the Road Show here.

Gallery: Tesla future models

[Source: Retail Road Show]

BREAKING: Tesla shows future products in IPO road show, liquid-cooled motor and electronics originally appeared on Autoblog on Mon, 21 Jun 2010 15:40:00 EST. Please see our terms for use of feeds.

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Report: Tesla IPO to happen week of June 28

Sam Abuelsamid — Tue, 15 Jun 2010 17:01:00 EST

Filed under: Toyota, Earnings/Financials, Tesla

Tesla Model S - Click above for high-res image

It looks like Tesla Motors will finally be going public the week of June 28, if a report in the Wall Street Journal is correct. The long anticipated stock offering was originally planned for the fall of 2008, but the global financial melt-down made that impossible. Tesla is hoping to sell 11.1 million shares at a price of $14 to $16 a share for a total take of up to $178 million.

The share offering must happen sometime this year under the terms of the recent agreement between Tesla and Toyota if the Japanese automaker is to proceed with its plan to invest $50 million in the California-based electric car maker. At $15 per share, Toyota would get about 3.3 percent of the company or about one-third of what Daimler got last year for a similar investment.

Aside from a single month in July 2009, Tesla has never turned a profit in its seven-year existence and is unlikely to do so until after the Model S goes on sale, now expected to happen in 2012. As of March 31, 2010, Tesla sold 1,063 Roadsters and there is no longer a waiting list for the electric sports car. Tesla officials have declined comment on the IPO report.

Gallery: Tesla Model S in motion

[Source: Wall Street Journal]

Report: Tesla IPO to happen week of June 28 originally appeared on Autoblog on Tue, 15 Jun 2010 17:01:00 EST. Please see our terms for use of feeds.

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Full details on Tesla/NUMMI deal disclosed

Sam Abuelsamid — Tue, 01 Jun 2010 10:58:00 EST

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

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

Tesla Motors announced last week that it was definitely going to build ist Model S at the former NUMMI factory in Fremont, California. Or it might not. This isn't the first announcement about where this car might be produced. That was way back in February 2007 when the car was still being referred to as Whitestar and it was planned to be built in Albuquerque, New Mexico. Along the way it was also going to be built in San Jose and most recently southern California.

The big surprise press conference held last week with CEO Elon Musk, Arnold Schwarzenegger and Toyota CEO Akio Toyoda caught everyone completely by surprise and apparently almost none of the i's have been dotted, nor have many t's been crossed. At the time, Musk announced that Tesla would be buying one of three parcels that make up the NUMMI facility, that being the one that includes the actual building facility. Regulatory documents filed by Tesla this week in advance of its upcoming initial public stock offering indicate that Tesla is to pay Toyota $42 million for the building out of its IPO proceeds. That price, however, does not include production equipment, which may go a long ways toward explaining why Tesla got such a "good deal" compared to the $130 million that Fisker paid for a closed General Motors plant in Delaware.

If Tesla wants any of the equipment left behind at the NUMMI facility, it will have to buy that separately at an upcoming auction. Of course, it won't actually need most of it for some time since the company only plans to build about 20,000 cars per year in a plant with a capacity 25 times that.

The product collaboration agreement between Toyota and Tesla is also just that so far, an agreement to collaborate with no additional details specified right now. And that $50 million that Toyota is to invest in Tesla? That will only happen if the IPO actually happens in 2010 and it will be at the offering price. So Toyota's investment may garner it either more or less stock than the nine percent that Daimler got last year for the same price.

Gallery: Tesla Model S in motion

[Source: Green Car Advisor]

Full details on Tesla/NUMMI deal disclosed originally appeared on Autoblog on Tue, 01 Jun 2010 10:58:00 EST. Please see our terms for use of feeds.

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Reuters: UAW pressuring Tesla/Toyota to hire union workers at former NUMMI plant

Steven J. Ewing — Fri, 21 May 2010 15:58:00 EST

Filed under: Plants/Manufacturing, Toyota, UAW/Unions, Tesla

Yesterday, Toyota and Tesla announced that the two companies would be collaborating on electric vehicle development. Tesla will be taking over the NUMMI factory in Fremont, California, which was recently closed. Now, the United Auto Workers is urging Toyota to hire union workers to operate the plant, giving jobs back to the people who were rendered unemployed after the NUMMI shutdown.

UAW president Ron Gettelfinger has issued the following statement:

"Our union's hope is that this venture will give first hiring preference to former NUMMI employees who are already trained and highly skilled."

As you'll recall, NUMMI was closed at the beginning of April after the Toyota/General Motors joint venture fizzled, a development that left roughly 4,500 union workers unemployed. Thus, it only makes sense that the UAW would be fighting to reinstate these workers' jobs now that Tesla plans to build its Model S sedan at this facility.

[Source: Reuters | Image: Justin Sullivan/Getty]

Reuters: UAW pressuring Tesla/Toyota to hire union workers at former NUMMI plant originally appeared on Autoblog on Fri, 21 May 2010 15:58:00 EST. Please see our terms for use of feeds.

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BREAKING: Toyota and Tesla to partner on EV production in California

Sam Abuelsamid — Thu, 20 May 2010 20:27:00 EST

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

Tesla Model S - Click above for high-res image

California governor Arnold Schwarzenegger, Tesla CEO Elon Musk and Toyota CEO Akio Toyoda held a joint press in Palo Alto, California to announce that the two companies would be collaborating on electric vehicle development and production, with Tesla will taking over the recently closed NUMMI factory in Fremont, CA to produce the Model S sedan.

Toyota will invest $50 million for a private placement of Tesla common stock and the state of California will provide a sales tax abatement to Tesla for capital equipment expenditures to tool up the plant. Musk estimated that the abatement will amount to about $20 million over the next several years.

According to Musk, production of the Model S will bring about 1,000 employees back to the NUMMI plant to produce about 20,000 cars a year at first, and as the facility expands - possibly to include the production of more models - it could employ up to 10,000 workers. Musk revealed that some employees have already been rehired, but was non-committal on the subject of union representation. NUMMI was the only Toyota plant in North America that was unionized.

An additional benefit to Tesla from this deal is that it will be able to take advantage of the Toyota production system and possibly some of Toyota's suppliers. That's sure to help Tesla avoid many of the logistical problems that hampered early Roadster production and costs.

Production of the Model S is still planned to start in 2012 and Musk said more advanced prototypes would be revealed later this year. No decisions have been made yet about additional vehicles to be produced at the plant which previously had a capacity of more than 300,000 vehicles a year.

The deal for the NUMMI plant leaves Downey, CA jilted at the altar with the city's mayor "feeling stabbed in the back by Tesla." The Toyota deal apparently came together very quickly and Musk acknowledged that he would still like to work with Downey, perhaps for a future Space-X facility. Hit the jump for all the details.

Gallery: Tesla Model S in motion

[Source: Toyota]

Continue reading BREAKING: Toyota and Tesla to partner on EV production in California

BREAKING: Toyota and Tesla to partner on EV production in California originally appeared on Autoblog on Thu, 20 May 2010 20:27:00 EST. Please see our terms for use of feeds.

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Tesla Model S factory plan timeline unrealistic?

Zach Bowman — Wed, 05 May 2010 16:01:00 EST

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

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

Autopia has brought a healthy dose of skepticism to the claims that Tesla will be delivering the Model S sedan to customers by 2012. Wired's automotive wing unearthed a report by the Downey Patriot that says that if the electric car manufacturer wants to use the property it has been eying in Downey, California, it will need to get on the ball in a hurry.

The report claims that in order for Tesla to renovate the structures located on the 51-acre tract of land to suit its needs, the company will need to have construction crews work 20-hours a day, five-days a week. Even at that pace, it will take close to 18 months to get everything ready in time.

That's just a year and a half to work out kinks like prepping buildings, installing tooling and firing up an assembly line. A spokesperson from Tesla says the 20-hour a day work schedule is a worst-case scenario, and that the company believes its goals are more than obtainable.

Right now, however, the company has yet to make a formal decision on where exactly it will build its manufacturing facility, and time is ticking. And even after that, Tesla still needs to prove it can sell its all-electric sedan at a profit.

Gallery: Tesla Model S in motion

[Source: Wired's Autopia]

Tesla Model S factory plan timeline unrealistic? originally appeared on Autoblog on Wed, 05 May 2010 16:01:00 EST. Please see our terms for use of feeds.

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Report: Tesla's Elon Musk says new CUV model due in 2013

Sebastian Blanco — Thu, 29 Apr 2010 13:28:00 EST

Filed under: Crossover, Tesla, Electric

IED Tesla EYE concept - Click above for high-res image gallery

The Tesla EYE design concept we saw in at the Geneva Motor Show was just an experiment some students at the Istituto Europeo di Design of Turin did with the Tesla brand. But the idea that we will see more and new vehicle models from Tesla Motors is a fact, as CEO Elon Musk reaffirmed this week during his acceptance speech for the Automotive Executive of the Year Innovator Award. AutoWeek was on hand and reports that Musk said that, after the Model S arrives in 2012, Tesla will introduce a crossover utility vehicle and other models starting in 2013. There's been talk about a Tesla SUV since at least 2008.

On the smaller side of things, Tesla's alliance with Daimler is moving forward with supplying electric vehicle technology for a Mercedes A-Class and the next Smart. For those of you who think Musk has a big ego, he said something in his speech that minimizes the impact of cars like the Tesla Roadster: "The smallest effect Tesla will make will be the cars we make ourselves. The biggest effect will be the cars they [other companies] make."

Gallery: Geneva 2010: IED Tesla EYE concept

Photos by Damon Lavrinc / Copyright (C)2010 Weblogs, Inc.
[Source: AutoWeek]

Report: Tesla's Elon Musk says new CUV model due in 2013 originally appeared on Autoblog on Thu, 29 Apr 2010 13:28:00 EST. Please see our terms for use of feeds.

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Tesla to kill the Roadster in 2011, new version coming in 2013?

Damon Lavrinc — Fri, 29 Jan 2010 19:30:00 EST

Filed under: Convertible, Tesla, Electric

Tesla Roadster - Click above for high-res image gallery

You read that right. Tesla Motors will stop building the Roadster in 2011.

Wired's Autopia was digging through the papers filed by Tesla to the Securities and Exchange Commission for its IPO and came across with this nugget:

"We do not plan to sell our current generation Tesla Roadster after 2011 due to planned tooling changes at a supplier for the Tesla Roadster."

As everyone's aware, the current iteration of the Tesla Roadster is built in Hethel, England by Lotus using Elise/Exige underpinnings. Judging by the quote above, that means the Elise/Exige is due to be replaced by a new model (good news for enthusiasts), but that leaves Tesla up a creek without the proverbial paddle.

The other telling line is this:

"As a result, we anticipate that we may generate limited, if any, revenue from selling electric vehicles after 2011 until the launch of the planned model S..."

The Model S is due to come out in 2012, which means Tesla might not have any revenue coming in until the all-electric sedan goes on sale. If there's a snag with anything in the launch of the sedan - design, production, engineering, you name it - then Tesla's in serious trouble. That might make investors wary when the upstart automaker finally begins offering shares.

So, bottom line: If you want the current Roadster, order now, or wait until the all-new Roadster goes on sale in 2013.

Gallery: First Drive: Tesla Roadster

[Source: Autopia]

Tesla to kill the Roadster in 2011, new version coming in 2013? originally appeared on Autoblog on Fri, 29 Jan 2010 19:30:00 EST. Please see our terms for use of feeds.

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Tesla files with the feds for IPO *UPDATED

Jonny Lieberman — Fri, 29 Jan 2010 18:38:00 EST

Filed under: Earnings/Financials, Tesla, Electric

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

For the first time in more than fifty years, a U.S. automaker is holding a public offering. Henry Ford made shares of Ford Motor Company public back in 1956. Tesla, the Elon Musk-owned Silicon Valley electric car company, filed to do so today. There's no word as to when the shares will be available for public consumption, nor any word as to how much each share will cost.

As for the timing of the filing, Telsa has sold nearly 1,000 (987 at last count) all-electric Roadsters in 18 different countries. Moreover, it has taken 2,000 reservations for its upcoming, more mainstream Model S, which is still at least a year away from production. With the production version of the Chevrolet Volt right around the corner, Tesla is looking to capitalize (quite literally) on the "growing interest in green technology and battery-powered vehicles." Should you buy? Don't ask us. However, King Midas-fingered whiz kids Sergey Brin and Larry Page (you know, the guys that founded Google) have already invested.

UPDATE: Full IPO filing here.

Gallery: Tesla Model S in motion

Gallery: Tesla Model S: LIVE REVEAL

[Soruce: Reuters]

Tesla files with the feds for IPO *UPDATED originally appeared on Autoblog on Fri, 29 Jan 2010 18:38:00 EST. Please see our terms for use of feeds.

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Mahalo CEO Jason Calacanis giving away his Tesla Model S (you know, when he gets it)

Sam Abuelsamid — Fri, 01 Jan 2010 18:00:00 EST

Filed under: Sedan, Tesla, Electric

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

Jason Calacanis, CEO of Mahalo.com and erstwhile founder of Weblogs Inc. (of which Autoblog and AutoblogGreen are a part) is a big fan of Tesla, and now he's announced that he's giving one away. Calacanis is already the owner of an early Tesla Roadster which he let us drive in late 2008. Even before he took delivery of his Roadster, Calacanis announced his intention to buy the company's second vehicle, the Model S. When Tesla unveiled the sedan last spring, Calacanis made good on his promise and put down deposits on two of the upcoming electric car, including serial #1.

Now Calacanis wants to give away his second Model S by getting his newly established Twitter account @auto to number 1 on the micro-blogging service. That position is currently held by actor and cougar-catcher Ashton Kutcher who has over 4.2 million followers. As this is written, @auto is up to almost 1,000 followers after only one hour. If you want a crack at a free Model S, just follow @auto.

Gallery: Tesla Model S in motion

[Source: Jason Calacanis]

Mahalo CEO Jason Calacanis giving away his Tesla Model S (you know, when he gets it) originally appeared on Autoblog on Fri, 01 Jan 2010 18:00:00 EST. Please see our terms for use of feeds.

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Pics Aplenty: Tesla unloads new set of Model S driving shots

Jeremy Korzeniewski — Fri, 21 Aug 2009 09:27:00 EST

Filed under: Sedan, Tesla, Electric

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

Just a day after releasing new images of the Tesla Roadster Sport, the Silicon Valley automaker has gone and unleashed its Model S starring in a series of actual at-speed driving shots. While we've seen high-res shots of the Model S in the studio from Tesla Motors and we've witnessed the car moving under its own electric power ourselves, this is the first time the automaker has published a photo series of its own showing the car in motion.

Looking a bit closer, it appears that none other than Tesla design chief Franz Von Holzhausen is behind the wheel of the Model S in these images. Lucky guy. Unfortunately, drivers looking to pilot their own Model S will need to wait until Q3 of 2011 for the chance.

Gallery: Tesla Model S in motion

Gallery: Tesla Model S

[Source: Tesla via egmCarTech]

Pics Aplenty: Tesla unloads new set of Model S driving shots originally appeared on Autoblog on Fri, 21 Aug 2009 09:27:00 EST. Please see our terms for use of feeds.

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REPORT: Daimler sells 4% of Tesla to Middle East investment fund just two months after acquiring it

Sam Abuelsamid — Mon, 13 Jul 2009 18:28:00 EST

Filed under: Middle East

Tesla Roadster - Click above image for high-res gallery

Just two months after buying 9% of Tesla Motors, Daimler has reportedly sold nearly half of that stake. According to Reuters, 4% percent of the electric car startup is now owned by Aabar Investments, an Abu Dhabi-based investment fund. In a way, the stake is still in the family, since Aabar already bought 9.1 percent of Daimler's stock earlier this year. At the time of its original investment, Daimler and the fund indicated an intention to pursue joint projects in low emissions transportation.

Aabar has indicated it would be interested in pursuing some kind of joint venture with Tesla. The fund is controlled by the Abu Dhabi government and managed by the International Petroleum Investment Company with the intent of diversifying beyond oil.

Gallery: Jason Calacanis' Tesla Roadster

REPORT: Daimler sells 4% of Tesla to Middle East investment fund just two months after acquiring it originally appeared on Autoblog on Mon, 13 Jul 2009 18:28:00 EST. Please see our terms for use of feeds.

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Elon Musk: "Golden handcuffs" require I stay through Model S launch

Sebastian Blanco — Thu, 02 Jul 2009 09:28:00 EST

Filed under: Convertible, Hybrid, Sedan, Performance, Government/Legal, Green

For a guy who allegedly wants a lot of the credit for creating Tesla Motors, Elon Musk certainly doesn't seem to like the job of being its CEO. As part of Daimler's investment deal with Tesla, Musk needed to commit to staying on as Tesla's CEO at least until the Model S launches in 2011. Musk told Reuters:

I didn't really have a choice. This was a requirement of Daimler that I remain CEO of Tesla through the Model S launch and then continue to be part of Tesla in a chairman role beyond that. It's flattering, but at the same time it's golden handcuffs.

Well, that sure makes it sound like fun, doesn't it? It's clear that Musk has always been interested in projects other than Tesla (e.g.: electric planes and SpaceX), but does he have to make running one of the hippest electric car companies around sound like a drag?

Another nugget from the article: One of the reasons the price on the Roadster was raised was to help qualify Tesla Motors for the DOE loan it later received. Musk said, "We did the minimum we needed to do to make the business work."

Gallery: Tesla Model S

[Source: Reuters]

Elon Musk: "Golden handcuffs" require I stay through Model S launch originally appeared on Autoblog on Thu, 02 Jul 2009 09:28:00 EST. Please see our terms for use of feeds.

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Ford, Nissan, Tesla all big winners in DoE advanced technology loans

Sam Abuelsamid — Tue, 23 Jun 2009 13:29:00 EST

Filed under: Budget, Hybrid, Government/Legal, Green, Plants/Manufacturing, Technology, Ford, Nissan

Ford Focus EV Mule - Click above for high-res gallery

The U.S. Department of Energy has finally announced the first recipient of low interest loans under its Advanced Technology Vehicle Manufacturing Incentive Program. The first recipient is Ford, and analysts believe the DoE will award sums to Nissan and Tesla Motors, as well. Ford applied for up to $11 billion in loans, but instead it was awarded $5.9 billion in financing. The Dearborn-based automaker will use the money to fund its electric vehicle program that will launch a battery-powered version of the Transit Connect in 2010, and it will also likely use the capital to help pay for the $550 million renovation of its Wayne, MI sport-utility plant to build the next-generation Focus in both internal combustion and electric flavors.

For its part, Nissan wants to add production of its upcoming electric car and lithium ion batteries at its assembly complex in Smyrna, Tennessee, and it will receive $1.6 billion.

Despite receiving the smallest sum of the three automakers, Tesla is arguably the biggest winner this round, as the $465 million it may receive will allow the fledgeling EV maker to proceed with completing development and production of its Model S sedan. Recent investment in the company by Daimler was probably a big help in getting the loan approved, as companies had to demonstrate viability. And since the ATVM program favors re-tooling of older existing plants, Tesla will probably look at acquiring a closed factory from another company. Recent rumors had the company possibly getting a former McDonnell-Douglas factory in Long Beach, although there are plenty of other properties available.

The current Chapter 11 bankruptcy proceedings at General Motors and Chrysler made those companies ineligible in the current round. It's not known if any announcements will be made about loans for battery makers like A123 or EnerDel.

Gallery: ABG Quick Drive: Ford Focus EV mule

Photos Copyright (C)2009 Sam Abuelsamid / Weblogs, Inc.

[Source: Automotive News, sub. req'd]

Ford, Nissan, Tesla all big winners in DoE advanced technology loans originally appeared on Autoblog on Tue, 23 Jun 2009 13:29:00 EST. Please see our terms for use of feeds.

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VIDEO: Franz von Holzhausen talks about the 2011 Tesla Model S

Domenick Yoney — Tue, 09 Jun 2009 20:01:00 EST

Filed under: Hybrid, Sedan, Green

2011 Tesla Model S - Click above for a high-res image gallery

The crew from On Cars had a chance to spend some quality time with the Tesla Model S and some of the key people bringing this sweet sedan to fruition. In the first of three videos (the other two haven't been released yet), not only are we treated to some gorgeous shots of the Model S, inside and out, but also have the chance to listen to designer Franz von Holzhausen talk at length about the object of our fastback desire. If you've been paying attention to every detail released about the all-electric so far, there might not be a lot of new material for you here, though interestingly, the Model S does get the year 2011 attached to it. That seems a little soon seeing as a factory hasn't been built or acquired yet, but we digress.

Even if you do happen to know every bit of Model S minutiae, it is nice to hear the passion and excitement Franz has for the project as he talks with ardor about proportion and aerodynamics. You can see why Tesla chief, Elon Musk hired him on in the first place. But enough jabbering, hit the jump and check it out for yourself.

Gallery: Tesla Model S

Gallery: Tesla Model S: LIVE REVEAL

[Source: On Cars]

Continue reading VIDEO: Franz von Holzhausen talks about the 2011 Tesla Model S

VIDEO: Franz von Holzhausen talks about the 2011 Tesla Model S originally appeared on Autoblog on Tue, 09 Jun 2009 20:01:00 EST. Please see our terms for use of feeds.

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VIDEO: Letterman meet Musk, Musk meet Letterman. Got it? Good. Let's all hate on Chevrolet's Volt

Sam Abuelsamid — Thu, 30 Apr 2009 13:08:00 EST

Click on the image above to watch the video

Elon Musk brought out the Tesla Model S for its big New York debut last night, and Late Night talk show host David Letterman got a real "charge" out of it. Musk appeared on the Late Show and it was kind of strange to watch. Letterman had some kind of throat ailment that left his voice sounding remarkably like Bob Lutz. In spite of that, Dave's trademark style left him showing little sympathy for any automakers when discussing why after more than 100 years no one has really developed the electric car.

Dave didn't spare any kind words for efforts to develop hydrogen fuel cell technology, but he really ripped into General Motors and its baby, the Chevrolet Volt. Apparently the idea of being able to go a mere 40 miles on a charge is not appealing to him, and to his discredit, he didn't bother to mention the range extender. For his part, Musk does nothing to correct this oversight.

Check out the video after the jump for as long as it stays live on YouTube.

[Source: YouTube]

Continue reading VIDEO: Letterman meet Musk, Musk meet Letterman. Got it? Good. Let's all hate on Chevrolet's Volt

VIDEO: Letterman meet Musk, Musk meet Letterman. Got it? Good. Let's all hate on Chevrolet's Volt originally appeared on Autoblog on Thu, 30 Apr 2009 13:08:00 EST. Please see our terms for use of feeds.

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