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 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.

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Tesla Model S Road Testing Underway [with Video]

It has been a long journey, but it looks like the Tesla Model S all-electric sport sedan is one step closer to series production as the California-based automaker announced it is moving on to the final road tests. The first phase called Alpha, which began in 2010, includes both computer simulations and test-drives of prototype vehicles. There will be a Beta phase as well.

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Tesla Model S

Tesla Model S Sedan

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Tesla Partners Up with Toyota to Develop EVs, Acquires NUMMI Plant

Tesla recently finalized its purchase of the advanced (and apparently extremely clean) NUMMI production facility in order to build its upcoming Model S sedan. Tesla hopes to build as many as 20,000 units per year in the southern California facility that's capable of building one million units annually.

Other than some potential spin-offs using the Model S platform (like an electric GT), there's a lot of capacity. That's where Toyota steps in. Toyota and Tesla will be working together to develop electric vehicles. their parts, and the engineering behind them.

The new facility will hire up to 1,000 new employees initially from one of the brightest pools around: Silicon Valley.

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Tesla Opens European Flagship Showroom in London

Electric sports car maker Tesla opened its first UK dealership in the heart of London at the Knightsbridge district. The 5,000 square-foot showroom on Cheval Place which is in walking distance from Harrods department store and convenient to Heathrow Airport will act as Tesla's European flagship store and will be followed by sales and service centers in Monaco, Munich and Zurich as well as four new stores in the United States.

The company said that it will begin delivering cars to European customers this summer of which the first 250 will be the Signature Edition Roadster model, priced from £94,000 on the road, but UK customers will have to wait until early 2010 for the first right-hand drive models. All in all, Tesla said that it has received 1,300 European orders for the all-electric Roadster model.

"Thanks to an abundance of discriminating drivers and progressive public policy, Tesla is already well known in Europe," said Tesla CEO Elon Musk. "We expect the London store to dramatically increase our brand identity throughout the continent, and with right hand drive models now due at the beginning of next year, the UK market will provide a solid foundation on which to build this."

Along with the Roadster, Tesla said that is also taking reservations for the four-door Model S sports saloon that is due for production in late 2011.

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Tesla Opens European Flagship Showroom in London

Electric sports car maker Tesla opened its first UK dealership in the heart of London at the Knightsbridge district. The 5,000 square-foot showroom on Cheval Place which is in walking distance from Harrods department store and convenient to Heathrow Airport will act as Tesla's European flagship store and will be followed by sales and service centers in Monaco, Munich and Zurich as well as four new stores in the United States.

The company said that it will begin delivering cars to European customers this summer of which the first 250 will be the Signature Edition Roadster model, priced from £94,000 on the road, but UK customers will have to wait until early 2010 for the first right-hand drive models. All in all, Tesla said that it has received 1,300 European orders for the all-electric Roadster model.

"Thanks to an abundance of discriminating drivers and progressive public policy, Tesla is already well known in Europe," said Tesla CEO Elon Musk. "We expect the London store to dramatically increase our brand identity throughout the continent, and with right hand drive models now due at the beginning of next year, the UK market will provide a solid foundation on which to build this."

Along with the Roadster, Tesla said that is also taking reservations for the four-door Model S sports saloon that is due for production in late 2011.

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Tesla Accepts More Than 700 Pre-Orders for Model-S in Two Weeks

In spite of the fact that the first examples of the Model S won't roll off the company's production line in California before late 2011, Tesla Motors has received 711 orders for its all-electric sports sedan in the two weeks that followed the unveiling of the car. The estimated base price of the Model S is $49,900 after a US federal tax credit of $7,500, with customers required to pay a $2,000 refundable deposit. There's also a Signature Edition that will be produced in 2,000 units which requires a hefty $40,000 reserve fee which is also refundable.

The Model S that can accommodate up to seven passengers -five adults and two children at the rear cargo area- features an electric drivetrain launching the sports sedan from zero to 60mph (96km/h) in 5.6 seconds and on to a an electronically limited top speed of 120 mph (209 km/h).

The sports sedan come with three available battery pack choices that offer a range of 160, 230, or 300 miles (257, 370 or 482 kilometers) per charge. The lithium-ion batteries can be recharged from any 120V, 208V or 240V outlet or quick-charged from an external direct current supply in 45 minutes.

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Tesla Model S Sports Sedan: First Live Videos on the Road

These are the first videos with driving footage of Tesla's all-electric Model S sports saloon that was introduced last week to the members of the press more than two years ahead of its scheduled U.S. and European market debut in late 2011. From the looks of it, the Model S was filmed making a few rounds on the road before and after the official presentation in Hawthorne, California, with the company's CEO Elon Musk behind the steering wheel. Hit the jump to watch the videos.

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Tesla Model S Sports Sedan: First Live Videos on the Road

These are the first videos with driving footage of Tesla's all-electric Model S sports saloon that was introduced last week to the members of the press more than two years ahead of its scheduled U.S. and European market debut in late 2011. From the looks of it, the Model S was filmed making a few rounds on the road before and after the official presentation in Hawthorne, California, with the company's CEO Elon Musk behind the steering wheel. Hit the jump to watch the videos.

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Tesla Model S Electric Sport Sedan: High-Res Gallery and Official Details

The wraps finally came off Tesla's all-new, plug-in electric sports sedan, the Model S, on Thursday in Los Angeles. Concisely, the Model S can seat up to seven passengers (we'll explain this below), sprint from zero to 60mph or 96km/h in just 5.6 seconds and go up to 300 miles or 480km on a single charge. First deliveries in North America and Europe will begin in late 2011 with the U.S. model featuring a base price of $57,400 or $49,900 after a federal tax credit of $7,500.

Now onto a more detailed view on the Model S. The photos reveal that Tesla's designers were heavily influenced by European cars and in particular the Jaguar XF when it came to the notchback's buttocks and profile and to a less extent, the Maserati GranTurismo for the car's front-end styling. Similarities aside, the Model S looks the part and we reckon that its design will be one of its strong points.

So what's with the seven seats, we hear you ask? Well, Tesla claims that the Model S which has an overall length of 196-inches (4,978mm) or somewhere between a BMW 5 and 7-Series, offers seating for five adults plus two rear-facing and foldable seats for children in the rear cargo area. Even in this configuration, the Model S can still carry some of your luggage as it has a second trunk under the hood.

Tesla's second model after the Roadster comes equipped with an electric drivetrain that includes an electric motor, a floor-mounted lithium-ion battery pack and a single-speed gearbox, launching the BMW 5-Series-sized sports sedan from naught to 60mph (96km/h) in 5.6 seconds and on to a top speed of 130 mph or 209 km/h. In the near future, Tesla aims to enrich the Model S' range with Sport and AWD versions.

The Model S will be available with three different battery pack options capable of offering a range of up to 160, 230 or 300 miles per charge. Tesla said that the battery pack can be quick-charged in 45 minutes at a cost of about $4 - or so the California-based company claims.

6:56 PM | 0 comments | Read More

Tesla Model S Electric Sport Sedan: High-Res Gallery and Official Details

The wraps finally came off Tesla's all-new, plug-in electric sports sedan, the Model S, on Thursday in Los Angeles. Concisely, the Model S can seat up to seven passengers (we'll explain this below), sprint from zero to 60mph or 96km/h in just 5.6 seconds and go up to 300 miles or 480km on a single charge. First deliveries in North America and Europe will begin in late 2011 with the U.S. model featuring a base price of $57,400 or $49,900 after a federal tax credit of $7,500.

Now onto a more detailed view on the Model S. The photos reveal that Tesla's designers were heavily influenced by European cars and in particular the Jaguar XF when it came to the notchback's buttocks and profile and to a less extent, the Maserati GranTurismo for the car's front-end styling. Similarities aside, the Model S looks the part and we reckon that its design will be one of its strong points.

So what's with the seven seats, we hear you ask? Well, Tesla claims that the Model S which has an overall length of 196-inches (4,978mm) or somewhere between a BMW 5 and 7-Series, offers seating for five adults plus two rear-facing and foldable seats for children in the rear cargo area. Even in this configuration, the Model S can still carry some of your luggage as it has a second trunk under the hood.

Tesla's second model after the Roadster comes equipped with an electric drivetrain that includes an electric motor, a floor-mounted lithium-ion battery pack and a single-speed gearbox, launching the BMW 5-Series-sized sports sedan from naught to 60mph (96km/h) in 5.6 seconds and on to a top speed of 130 mph or 209 km/h. In the near future, Tesla aims to enrich the Model S' range with Sport and AWD versions.

The Model S will be available with three different battery pack options capable of offering a range of up to 160, 230 or 300 miles per charge. Tesla said that the battery pack can be quick-charged in 45 minutes at a cost of about $4 - or so the California-based company claims.

6:56 PM | 0 comments | Read More