Tesla Losses Soar to $154.3 million in 2010

Tesla Motors has just released a preliminary, unaudited financial report concerning the year than ended on Dec. 31, 2010. The company reported losses of US$51.4 million in Q4 2010 and US$154.3 million for 2010, which was almost triple the US$55.74 million loss for the year ending Dec. 31, 2009.
The EV automaker's revenue, however, rose approximately 5 percent in 2010 to $116.7 million. Revenues for the fourth quarter of 2010 were US$36.3 million, a 16% increase from the US$31.2 million reported in the prior quarter. Tesla added that gross margin improved to 26% for the full year 2010, up from 9% for 2009.
The company 's future plans include the launch of the Model S, which is scheduled to go on sale in the middle of next year. Scroll down to read Tesla CEO Elon Musk's statement.

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Tesla Losses Soar to $154.3 million in 2010, Despite Gains in Revenue

Tesla Motors has just released a preliminary, unaudited financial report concerning the year than ended on Dec. 31, 2010. The company reported losses of US$51.4 million in Q4 2010 and US$154.3 million for 2010, which was almost triple the US$55.74 million loss for the year ending Dec. 31, 2009.

The EV automaker's revenue, however, rose approximately 5 percent in 2010 to $116.7 million. Revenues for the fourth quarter of 2010 were US$36.3 million, a 16% increase from the US$31.2 million reported in the prior quarter. Tesla added that gross margin improved to 26% for the full year 2010, up from 9% for 2009.

The company 's future plans include the launch of the Model S, which is scheduled to go on sale in the middle of next year. Scroll down to read Tesla CEO Elon Musk's statement.

“We are very pleased to report continued revenue growth, improving margins and a steady progression in our Roadster and powertrain activities,” said Elon Musk, CEO of Tesla Motors. “Our powertrain team delivered solid results, with an increase in orders and record deliveries of battery packs and chargers for the Daimler Smart fortwo electric drive, the completion of our development program for the Daimler A-Class, and the commencement of the phase 1 development program for the Toyota RAV4 EV.”

“The highlight of the quarter was our on-time completion of the first drivable Model S alpha,” continued Musk. “The quality and level of refinement of the alpha demonstrates the superb job of our design, vehicle engineering and powertrain teams. They have embraced the opportunity to build an EV from the ground up and have produced a vehicle which shows great potential to deliver superior aerodynamics, stability and handling, crash safety, performance and range. We believe the Model S is well on its way toward becoming the vehicle of choice for 2012.”

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Tesla Roadster Sport - Battery Electric high performance sports car

I have to admit, I didn't think that they were going to pull it off.

The history of the automobile is a long road that's littered with the forgotten hulks of dream cars that were too good to be true, after all, so when an upstart company called Tesla announced in 2006 that it was going to produce the world's first all-electric sports car, I was less than confident that it would ever see the light of day.
Thankfully, the company wasn't waiting for my approval to hit the road. Tesla has now delivered about 1000 Roadsters so far, is making big plans for an all-electric family sedan to follow, has taken over Toyota's NUMMI plant in California and now has seven dealers across the U.S. As for my opinion on the company's veracity, I stand firmly corrected, and jumped eagerly at the chance to meet one.

Tesla's Roadster looks the part of a serious sports car. The car itself is tiny and dart-like. The chassis and design began life shared with the Lotus Elise, but the two cars are barely kissing cousins at this point. The Tesla shares only its dash panel and some suspension components with the Elise. A mid-year styling upgrade for 2010 gives the Tesla an even stronger identity. The carbon-fiber body panels are smoother, and it's angular where the Elise is organic.

Projector-style headlamps are matched by a similar motif at the rear.
The wheelbase has been stretched two inches in the interest of making the Roadster more livable, and the deep "hood" vents lead to cooling fans for the battery pack and motor.
Lift the rear cover, and where the engine of a mid-engined car would be, there's a big black box that contains the power electronics module and batteries. The battery packs are cooled by flowing antifreeze, to keep them efficient. The watermelon-sized motor produces 288 horsepower and spins up to 14,000 rpm. Translated through the single-gear transmission--like a fixed-gear bicycle, the Roadster's road speed is determined entirely by engine speed--that's about 126mph. Tesla claims an optimum range of about 245 miles, but this
will vary depending on how the car's driven. There's no reverse

gear; the motor itself just runs backwards, up to 15 mph. A 70-amp home charging system is the fastest way to re-juice the batteries, requiring about three hours to reach a full charge. 50-amp and 110-volt adapters are also included.

The cozy cabin requires a bit of contortion to climb into over the wide sill, and once inside you're knee-high to a Miata. This car's a two-seater, of course, like any "proper" sports car. The driver and passenger sit dead-center in the wheelbase. The Tesla feels sparse, but not unfinished; a narrow console includes pushbuttons for transmission control, an emergency brake and the standard seat-heater
buttons. There's a vehicle-information touch-screen low on the

console, and an in-dash navigation system and backup camera are available. The toylike steering wheel brings go-karts and race cars to mind, as does the negligible cargo space.

Any doubts about the Tesla's status as a true sports car are dispelled the moment you nail the accelerator. Holy--! The Tesla just GOES, in an eyeball-flattening rush of electronic whirring. There's no engine noise, of course, but the motor churning away right behind the passenger cabin hints at a great deal of power. Watching the Tesla Roadster launch is fascinating. There's no revving engine to alert onlookers to what's about to happen. Zing! The Roadster is just gone, with nary a chirp of the tires. Zero to sixty comes up in about four seconds. An aggressive traction control system modulates the motor's torque when the tires are about to break loose, preventing slip without an uncomfortable decrease in power.

On the road, there's not much in the way of sound deadening, but the electric motor makes a lot less noise than the average V8. Tire noise and that powerful whir from the motor comprise the soundtrack. Double wishbones and coil springs comprise the suspension at both ends, and the Roadster Sport features an adjustable sport suspension as standard equipment. The Tesla Roadster porpoises on uneven pavement, but the ride is somewhat less punishing than that of the average sports car.

The motor and battery are mounted where the engine would be on a mid-engined car, so the Tesla is very balanced. It's as comfortable as any extreme sports car, and around town is similarly usable.
An aggressive regenerative function allows the engine to charge the batteries during deceleration, and has the added advantage of providing nearly all of the necessary braking power. The Tesla practically stops itself when you lift off of the accelerator. Should more positive braking be needed, anti-lock brakes are standard.
The Tesla Roadster is available in two models. The Roadster Sport adds an adjustable suspension, special seventeen-inch wheels and a hand-wound motor. Pricing starts at $109,000 for the standard Roadster, and the Roadster Sport comes in at $128,500. Both models are eligible for a $7500 federal tax credit, which softens the blow slightly. Of course, since the Tesla is currently the only game in town when it comes to realistic two-seat electric powered convertibles with stunning performance, price comparisons are somewhat meaningless.

All specs are for the 2010 Tesla Roadster Sport
Length: 155.1 in.
Width: 72.9 in.
Height: 44.5 in.
Wheelbase: 92.6 in.
Curb weight: 2723 lb.
Base price: $128,500
Motor: 375-volt AC induction air-cooled electric motor
Drivetrain: single-speed fixed-gear transmission, rear-wheel drive
Horsepower: 288 @ 4400-6000
Torque: 295 @ 0-5100

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Tesla to Extend its Lineup with an All-Electric SUV by 2014

*Opening Photo: Tesla Model S

Lately, the folks over at Tesla have been very busy developing the upcoming Model S sedan and, together with Toyota, the all-electric version of the RAV4 compact SUV. But there’s more, as according to an LA Times report, the California-based automaker is also working on a small SUV of its own, currently named Model X.

Scheduled to go on sale by 2014, the new crossover model is said to offer more cabin space compared to similarly sized SUVs thanks to the electric powertrain, which, unlike an internal combustion engine and conventional transmission, needs less space.

Tesla hasn’t released any other information, but it’s quite possible that the Model X will follow in the footsteps of the Roadster and Model S. That means customers can expect good handling characteristics, multiple battery pack options to suit specific autonomy needs and a versatile interior. Last but not least, Tesla’SUV should also qualify for some kind of federal tax credit.

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Tesla to Extend its Lineup with an All-Electric SUV by 2014

*Opening Photo: Tesla Model S

Lately, the folks over at Tesla have been very busy developing the upcoming Model S sedan and, together with Toyota, the all-electric version of the RAV4 compact SUV. But there’s more, as according to an LA Times report, the California-based automaker is also working on a small SUV of its own, currently named Model X.

Scheduled to go on sale by 2014, the new crossover model is said to offer more cabin space compared to similarly sized SUVs thanks to the electric powertrain, which, unlike an internal combustion engine and conventional transmission, needs less space.

Tesla hasn’t released any other information, but it’s quite possible that the Model X will follow in the footsteps of the Roadster and Model S. That means customers can expect good handling characteristics, multiple battery pack options to suit specific autonomy needs and a versatile interior. Last but not least, Tesla’s SUV should also qualify for some kind of federal tax credit.

By Csaba Daradics

Source: LA Times

___________________________TESLA MODEL S___________________________

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2011 Brabus Tesla Roadster Green Package

2011 Brabus Tesla Roadster Green Package

2011 Brabus Tesla Roadster Green Package

2011 Brabus Tesla Roadster Green Package

2011 Brabus Tesla Roadster Green Package

2011 Brabus Tesla Roadster Green Package

2011 Brabus Tesla Roadster Green Package

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Tesla to Build Mass Market Electric Sedan in California

Tesla’s forthcoming battery-powered 4-door sedan model that is scheduled to enter the market in 2010 will be manufactured at a facility in the state of California (just like the Roadster) and not in Albuquerque, New Mexico as it was previously announced. Tesla Motors and Californian Governor Schwarzenegger made the announcement at a joint press conference at the company’s San Carlos headquarters.

“Today’s announcement is incredible news for California’s economy and its environment,” said Governor Schwarzenegger. “If California was a baseball team this would be like winning the first round draft pick and recruiting a player who is a perfect fit on our roster because Tesla Motors and its all-electric cars belong in California,” the Governor added. -Continued

Ze’ev Drori, President and CEO of Tesla Motors, remarked, “Tesla has achieved an extraordinary accomplishment. We are the only automobile company today delivering full performance battery-electric vehicles to our customers. Make no mistake - we are not a niche player with a car only for the rich and famous. As our agreement with the state so clearly demonstrates, we are building a high volume ZERO EMISSION VEHICLE, manufactured in California for mid-range family use. And we aren’t going to stop there. We will continue on and build even more affordable cars.

You are witnessing the debut of a new car company, a company unlike all others, a company with a disruptive technology, a company dedicated for the exclusive production of Zero Emission Vehicles.”

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F1 Champion Damon Hill to Drive Tesla Roadster in Green Race

Former Formula One World Champion, Damon Hill will sit behind the wheel of a Tesla Roadster in the GreenFleet Capital Arrive ‘N’ Drive 08 event, which will start on London’s Horse Guards Parade on 31 July, 2008. The eco-friendly challenge aims to promote the latest innovations to reduce emissions and improve air quality in London. The Tesla Roadster will be among the 20 public and private sector drivers taking part in the 33 mile-course to demonstrate the use of electric power as a viable alternative to conventional fuel sources. -Continued

Talking about the event, Darryl Siry, senior vice president of sales, marketing and service, Tesla Motors said: “It is a huge privilege for Damon Hill to present the Tesla Roadster to car enthusiasts on the capital’s streets. This will be a perfect opportunity for people to witness high performance and fun motoring without the need to compromise the environment.”

10:49 PM | 0 comments | Read More

Tesla to Build All-Electric Luxury Sedan in California in 2010

Continuing its investments, Tesla Motors announced that it is planning to build a $250 million facility to manufacture a zero-emission luxury sedan in the heart of Silicon Valley. Named Model S, the five-passenger sedan will be powered by a lithium-ion battery pack and according, it is expected to have a base price of $60,000 and get around 240 miles or 386 km per charge. The first sedans will likely roll off the Tesla’s new assembly line in late 2010. Tesla’s President and CEO Ze'ev Drori said that construction on the 89-acre site would begin in the summer of 2009 and when fully operational, the facility will employ approximately 1,000 workers. -Continued The company also said that it will relocate its corporate headquarters and research and development efforts to a consolidated campus in San Jose, California. Tesla, which currently produces the all-electric, two-seater Lotus Elise-based Roadster, said that it chose San Jose in part because the region already enjoys a high concentration of highly skilled engineers and support infrastructure. The new factory will be located 20 miles from the current headquarters in San Carlos.
The new plant won’t affect the Roadster as Tesla has no plans of moving production from the Group Lotus PLC factory in Hethel, U.K. Last week the company said it was ramping up production as about 1,200 people have already put down deposits for the Roadster. So far, Tesla has delivered only about 30 Roadsters.

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Tesla Shock: Financial Crisis brings New CEO, Layoffs and Delay of Model-S

The economic turmoil that has devastated the stock market is also battering Tesla Motors that is running dangerously low on cash. In a surprise announcement, the Silicon Valley-based firm's main investor, executive chairman and product architect (yep, all those together), Elon Musk said that he plans to take over the reigns from current CEO Ze'ev Drori who will remain on the board of directors as vice-chairman. Musk stated that in order for the company to stay afloat, there will be necessary job cuts and a delay of the production of the firm's forthcoming 4door sedan called Model-S. -Continued
"Our goal as a company is to be cash-flow positive within six to nine months. To do so, we must continue to ramp up our production rate, improve Roadster contribution margin and reduce operating expenses. At the same time, we must maintain high production quality and excellent customer service," Musk said in a statement.
The company's new CEO also decided that Tesla will focus on its two revenue producing business lines - the Roadster EV and powertrain sales to other car companies, meaning that everything else is on hold.
While Musk did not reveal the exact number of layoffs, he did announce that some headcount reduction will be done due to consolidation of operations as Tesla will move its vehicle engineering departments to its new HQ in San Jose, closing the Rochester Hills office near Detroit.

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Tesla Roadster Test Drive Turns into 100MPH Crash Test in France

Since there aren't many Tesla Roadsters out on the roads, whenever one of them is involved in an accident, its headline news. What makes this Tesla Roadster crash story even more intriguing is the fact that, according to the crash-happy crew over at Wreckedexotics, the man behind the wheel of the all-electric sports car was a sales director for Tesla. The man took an unnamed passenger for a demonstration drive somewhere in southern France on Wednesday, October 29th. It is reported that he was going around 100mph or 160km/h when he tried to make a turn that ended up in what you see here.
Aside from the speed factor, wet roads and poor visibility are said to have contributed to the accident. As you can from the pictures, the crash was pretty serious with the passenger being ejected from his seat upon impact. Miraculously, both managed to escape this horrid accident alive, with the sales director suffering a broken hand, some minor bruises and a lot of explaining to do while the passenger was recently released from hospital.








Source: WreckedExotics

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Tesla Wants $400 Million Bailout Loan - Anyone Else?

Everyone wants a piece of the (bailout) pie; even tiny Tesla Motors. The Associate Press reported that the Silicon Valley-based electric car joined Detroit's Big Three automakers in their bid to get a $25 billion government aid. Tesla was said to have applied for about $400 million in no to low-interest loans to fund two projects, details of which weren't revealed. But unfortunately for Tesla, GM, Ford and Chrysler LLC failed spectacularly to make a convincing case for the $25 billion bailout with the Congress telling them to return in December with a viable turnaround plan - click here for more details.
And while one could somewhat justify bailing out the Big Three to preserve jobs and help the U.S. economy from falling into a deeper recession, what's the big deal if Tesla goes bankrupt? We're talking about a small company that builds one limited production sportscar -the Roadster- and which might make another one in a few years time - the 4-door sedan Model-S. So what?
Via: TTAC , Source: Mlive / Associated Press

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