Hasta La Gadget!

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]

Filed under: Transportation

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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Sure, topping off a Model S in 30 minutes with a Supercharger is awfully handy, but production delays of the sedan will keep some future owners away from quick charge times — and most importantly — their cars for a little while longer. In a freshly published filing with the US Securities Exchange and Commission, Tesla revealed that it hasn’t reached its goal of producing 400 Model S vehicles a week, which places them four to five weeks behind their 2012 delivery expectations. To date, just 255 of the autos have rolled off the assembly line, 132 of which have made their way to new homes. According to the Palo Alto-based outfit, ramping up production has been slower than expected for a number of reasons, including supplier delays and taking a deliberately measured pace for quality assurance purposes.

Before the year draws to a close, Musk and Co. anticipate meeting their goal of churning out 400 cars each week, and a total of 20,000 by the end of 2013. Currently, the automaker has racked up around 13,000 reservations and thinks it’ll be working to fulfill even more throughout 2013. As a result of the manufacturing lag, the firm has slashed its revenue forecast by as much as $200 million, estimating it’ll rake in anywhere from $400 million to $440 million this year. In an effort to add cash to its coffers, the company is putting up roughly 5 million shares of stock for sale. Who’s buying, you say? Tesla mentioned its CEO Elon Musk is interested in putting down a cool million bucks.

Filed under: Transportation

Tesla behind on Model S production goals, aims for extra cash with stock sale originally appeared on Engadget on Tue, 25 Sep 2012 21:56:00 EDT. Please see our terms for use of feeds.

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People here in the US of A have been able to pre-order Nintendo’s latest gaming console since shortly after the Japanese company wrapped up its NYC event yesterday, and now it’s time for UK folks to do the same — at least through Amazon. The online retail giant’s now offering both the Basic and Premium units on its site for £249 and £299, respectively, or there is also a top-of-the-line bundle which includes ZombieU that’s priced at £329. Regardless of the Wii U route you choose to take, be sure to mark November 30th on your calendar as the date to expect that trademark brown box to show up at your doorstep.

Filed under: Gaming

Nintendo Wii U now available to pre-order in the UK from Amazon originally appeared on Engadget on Fri, 14 Sep 2012 10:18:00 EDT. Please see our terms for use of feeds.

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If you’re looking to save a few bucks on the iPhone 5 and don’t mind shopping with people who enjoy wearing denim suits, you should pre-order your iPhone at Wal-Mart. The big box store will start taking pre-orders at 8AM tomorrow for a starting price of $190. More »

Eager to get your mitts on one of the Wii U consoles? Well, you can pre-order both the basic and premium bundles from the folks at GameStop starting today in order to be well-prepared for the November 18th release. The gaming retailer is also offering a variety of trade-in credits for those aging kits that you’re itchin’ to get rid of. You can expect to snag $50 for your old Wii and the numbers continue to head north from there for the Xbox 360, PS3 and more. You can pre-order a number of the launch titles as well, should you feel inclined to do so. Dive in to the particulars in the full PR that follows and hit the source link to commit your funds to the cause.

Continue reading Wii U now up for pre-order at GameStop, trade credits outlined for your current gaming arsenal

Filed under: Gaming

Wii U now up for pre-order at GameStop, trade credits outlined for your current gaming arsenal originally appeared on Engadget on Thu, 13 Sep 2012 11:47:00 EDT. Please see our terms for use of feeds.

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