Hasta La Gadget!

If you’re one Elon Musk, you’re probably ready for just about anything to take the place of the only story dominating the Tesla tagline for the past few weeks. Of course, a $90 million net loss isn’t the ideal story to overtake the Model S kerfuffle, but hey — at least the company’s aiming to pull in a profit next quarter. In a bid to keep investors focused on the positive, the automaker’s Q4 2012 shareholder letter notes that Tesla is officially predicting its first quarterly profit in Q1 2013, sliding up from “late 2013.”

For the quarter that just wrapped, the firm saw revenues of $306 million (a 500 percent increase sequentially from the $50.1 million seen in Q3 2012), and it ended the year with $221 million in total cash after having made the first quarterly principal payment of $12.7 million to repay the loan to the U.S. Department of Energy. Tesla also plans to deliver some 20,000 Model S vehicles in 2013, with around 4,500 of those happening in Q1. Europeans and Asians can expect their deliveries in “summer” / “late this year” (respectively), with the first Model X deliveries to occur in early 2014. Musk also told investors that it plans to “spend significantly less on capital expenditures” in 2013 compared to 2012, helping to (hopefully) generate “slightly positive net income on a non-GAAP basis” in Q1 2013.

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Source: Tesla

We liked Tesla’s Model S, but some of the other outlets didn’t feel the same way. The New York Times‘ John Broder, for one, described being stranded 25 miles away from the nearest supercharger station. However, after Tesla’s litigious run-in with Top Gear, the company keeps detailed vehicle data logs to ensure it gets a fair deal in reviews. Now, Tesla (and SpaceX) CEO Elon Musk has posted the data that, he says, proves Broder wasn’t being fair.

Musk accuses Broder of pulling the plug on a recharge with just 32 miles range in the tank, despite planning a route of 61 miles “in obvious violation of common sense.” He also says the reviewer drove past a public charge station, despite repeated warnings that it was running low, drove the car around at 81mph and “deliberately stopped charging” after shorter and shorter times. Musk finishes by saying that the company was wrong to offer Broder access to the vehicle, as it was “unaware of his outright disdain for electric cars” and asks the New York Times to investigate the review. We suspect this one’s going to run-and-run, but we’d better warn the NYT that their opponent does have access to rockets.

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Source: Tesla

You might say the week is never really done in consumer technology news. Your workweek, however, hopefully draws to a close at some point. This is the Weekly Roundup on Engadget, a quick peek back at the top headlines for the past 7 days — all handpicked by the editors here at the site. Click on through the break, and enjoy.

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Time to go on that great California road trip, Tesla owners; the EV maker has just launched new Superchargers in six Golden State locations: Folsom Premium Outlets, Harris Ranch in Coalinga, Gilroy Premium Outlets, Barstow, Tejon Ranch in Lebec and Hawthorne. They appear to be strategically placed to ease journeys between San Francisco, Los Angeles, Lake Tahoe and Las Vegas, NV. The solar powered stations from SolarCity are designed just for Tesla vehicles, with Model S sedans being able to charge for free. According to Tesla, a Model S can be charged in about 30 minutes if you want to get around three hours of 60mph driving out of it, so you’ll have plenty of time to grab an In-N-Out Double Double on your way to Sin City.

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Tesla’s Supercharger network goes live in six California towns, encourages EV road trips originally appeared on Engadget on Fri, 19 Oct 2012 22:57:00 EDT. Please see our terms for use of feeds.

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After Tesla Motors’ recent SEC filing painted a picture of production delays, revenue shortfalls and stock sales to raise cash, CEO Elon Musk has gone on the record to say everything’s a-okay. The omnipresent executive said that “if the calendar were simply shifted a few weeks to the right” Tesla would have actually exceeded its vehicle delivery targets for the quarter, and said that the share release was merely held to mitigate risk from suppliers. He also claimed that the Department of Energy’s request for early repayment was not a poor reflection of the EV maker’s financial state, but actually a hearty endorsement — the government branch expects Tesla to make loads of cash, and wants it to repay the loan early rather than hoarding it. As such, Musk announced the Model S builder had initiated its first early payment today and would pay off the principal loan prior to its March 2013 due date. We’ll have to see if that’s enough to keep the automaker’s name out of any future presidential debates.

[Image credit: Tesla Motors]

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Elon Musk says Tesla will be ‘cash flow positive’ soon, announces early repayment of DOE loan originally appeared on Engadget on Thu, 04 Oct 2012 15:39:00 EDT. Please see our terms for use of feeds.

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