Tesla Motors Model S push beyond North America detailed in brief

As Tesla Motors first quarter ended, this week it was made clear that the electric car company’s plans for spreading beyond North American sales by the end of the year. With a “meaningful demand” appearing for the financing plan adjustment pushed earlier this month, the company made it clear this week that the growth they’ve seen in the very recent past will be continuing outside the North American market soon. At the moment, every Tesla Model S electric vehicle sold has been delivered within North America – soon the company will spread to Europe and Asia with numbers a bit smaller than their USA delivery schedule through 2013.

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The first quarter of this year saw Tesla producing their 10,000th Model S vehicle body – and they’d better get a move on if their suggestions of rates of orders are correct. Tesla Motors noted this week that they’ve reached an order rate greater than 20,000 per year worldwide, and not just in the United States. Tesla notes that though the Model S has only been delivered to North American customers at the moment, they’ve seen “significant potential” in both Europe and Asia.

The company has suggested that they’ll be building right around 5,000 Model S vehicles in the second quarter of 2013, some of them headed for Europe for delivery in the third quarter of the year. The company has also raised their target for sales on this electric vehicle to 21,000 unit deliveries by the end of the year, worldwide.

“I think we’ll see at least 10,000 units of demand per year in Europe, and at least 5,000 in Asia.” – Deepak Ahuja, Chief Financial Officer

“Do not take these numbers as final in any way, but if I’m asked to speculate I could say 15,000 units for North America, 5,000 for Europe, and 1,000 for Asia [by the end of the year].” – Elon Musk

In the announcement mass this week regarding their first quarter of 2013, Tesla also noted that they’d exceeded their targets for deliveries, made a significant expansion in gross margin, and generated a profit of $15 million. That is, again, the first time the company has made a quarterly profit in the entirety of the company’s 10-year history. Producing approximately 400 Model S cars per week certainly must have had shareholders either nervous or pumped up – that’s a lot of metal with potential to hit the road.

[via Tesla Motors Live Conference]


Tesla Motors Model S push beyond North America detailed in brief is written by Chris Burns & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.

Tesla Motors shows first profitable quarter in 10-year history

Tesla Motors has released its Q1 2013 quarterly earnings results today after the company reported a pretty good quarter back in February. At that point, it seemed that the electric car maker couldn’t make any more money, but it seems they proved us wrong, raking in more cash for the quarter, as well as profiting for the first time ever.

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The company sold 4,900 vehicles during the three month period, raking in $562 million in revenue, which is up a whopping 83% from last quarter’s $306 million. After it was all said and done, Tesla profited $11 million, which is barely pocket change, but it marks the first time in the company’s ten-year history that they’ve finished in the black.

Throughout the first quarter, Tesla claims that they built “400 or more” Model S vehicles per week on average, and they beat their original guidance of 4,500 cars for the quarter, shipping almost 5,000 Model S cars during the past three months. The company also reduced the amount of time it takes to building a Model S, lowering that time by around 40%, which allowed them to build more units.

Currently, Tesla says that they’re receiving orders for new cars at a rate of around 20,000 per year globally. However, Tesla doesn’t sell cars outside of North America, but the company hinted that there is an interest in selling Model S cars to regions in Europe and Asia. The company made a lot of announcements this quarter, including a new financing plan and a new warranty program that aims for guaranteed customer satisfaction.


Tesla Motors shows first profitable quarter in 10-year history is written by Craig Lloyd & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.

Tesla turns a $15 million profit in Q1 2013 on $562 million in revenue (update)

Despite a bit of bad press for its Model S and a less-than-ideal close to the 2012 financial year, things have been looking up for Tesla. Sales are on an upward climb, company CEO Elon Musk has sworn to deliver more superchargers, better service for customers and continues to tout his EV’s high resale value. After promising in Q4 of 2012 that Tesla would turn a profit the next quarter, the EV manufacturer has done so — generating $15 million in net income and $562 million in revenue in Q1 2013.

During the first quarter the company built 5,000 Model S cars, and is scheduled to build the same number in Q2 to keep pace with the 20,000 orders expected this year. To better service all those vehicles, Tesla opened 12 new service locations in Q1, with 18 more to come online by the end of 2013. Additionally, the company plans to start deliveries of Teslas in Europe in Q3. An investor call with Mr. Musk will be starting shortly, and we’ll update things here should he have any other news to share.

Update: During the call, Musk said that the company plans to build upon its newfound financial success by continuing to focus on increasing production efficiency for the Model S — which is why the Model X has been delayed until late 2014. He also made mention of the fact that roughly half the folks buying the 60 kWh Model S are upgrading to supercharging hardware at purchase (85kWh cars have it standard), and he expects that number to grow as the Supercharger network grows in 2013.

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Source: Tesla [PDF]

Tesla Talks with Google about Self-Driving Vehicle Systems

One of the most successful and intriguing electric vehicle makers is Tesla. Compared to the likes of Ford or GM, Tesla is certainly small potatoes. However, the company has been successful in producing some the best performing and longest driving electric vehicles on the market. The latest and greatest vehicle from Tesla is called the Model S.

Tesla CEO Elon Musk recently said that his company is considering including driverless technologies in its vehicles and has been discussing autopilot systems with Google.

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Google is one of the biggest technology firms in the world that is working on driverless cars. Musk believes that the next step is something more like an airplane’s autopilot system than a self-driving car.

The difference between self-driving systems and autopilot style systems is significant. Google’s autonomous vehicles are able to drive between two specific locations with no human intervention. Autopilot style systems allow the vehicle to take over from the driver in certain situations, such as in traffic or when driving down the highway – like cruise control on steroids.

There’s no word on if or when autopilot systems will find their way into Tesla’s vehicles, but the discussions are certainly indicative of where the automotive industry is going.

[via Bloomberg]

Tesla Model S Has Secret Menu

Tesla Model S Has Secret MenuDo you love Easter Eggs in video games as well as other kinds of software? Who would have thought that an Easter Egg of sorts can be found within the menu system of an electric car? That is exactly what folks discovered about the Tesla Model S, which so happened to have picked up just about every kind of automotive award that it could possibly pick up last year, but that does not mean it is the perfect ride. There is a new range of menus which remain hidden within the giant touch screen in the Model S, dropping hints that a couple those features might be on their way – in addition to a lane departure warning, too.

There is no firm word on what those options would be, but at least we do know that the software in action is in the prototype stage at this point in time. Of course, one cannot rule out the possibility that Tesla could very well install a slew of sensors on the sly without informing anyone, and to have these features switched on, it might require a whole lot more than a mere software update. Other unannounced apps that were hinted in the hidden menu include an image viewer, a sketch pad, a scheduler/calendar and different test apps.

By Ubergizmo. Related articles: Terrafugia TF-X Plug-In Hybrid Flying Car , Mitsubishi Works On Wireless Remote Charging For Electric Vehicles,

    

Bloomberg: Tesla’s Elon Musk discussing self-driving car partnership with Google

Bloomberg Tesla CEO Elon Musk chats selfdriving tech with Google

What’s next for Tesla’s Model S? Road safety and assistance tools may be on the docket, including self-driving technology that Elon Musk refers to as “autopilot,” according to a Bloomberg report. The CEO has reportedly been in talks with Google about assistive tech — the feature could be similar to what we’ve seen in Mountain View’s recent self-driving demos, though a system developed in-house by Tesla is more likely. Bloomberg states that some automakers, such as Nissan, think autonomous vehicles could be a decade away, so don’t expect a next-gen Model S to navigate roads on its own.

Meanwhile, a hidden configuration page in current vehicles reveals some additional features, including Blind Spot Detection, Adaptive Cruise and Lane Departure Warning. All three are currently disabled, but they could bring at least some additional automation to the all-electric car. It’s unlikely that the required hardware is installed within sedans already on the road, but those features are clearly on the company’s radar, giving us hope that some of the concerns we outlined during our review may soon be addressed.

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Source: Bloomberg

Tesla in talks with Google over self-driving car tech [UPDATE]

Tesla Motors, the company behind the popular Model S and its all-electric car tech in general, is interested in self-driving cars and is in talks with Google on how bring that technology to Tesla cars in the future. Tesla CEO Elon Musk says that self-driving cars are the way of the future and are the next step in car technology.

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However, Musk is wanting self-driving technology that’s more like the autopilot system in airplanes, mentioning that the word “self-driving” implies that the car is “going to do something you don’t want it to do.” Instead, Musk says that autopilot would be perfect, and says that cars “should have it.”

While Bloomberg reports that Musk is currently in talks with Google, it seems as if he wants to implement his own system for self-driving cars, rather than just use Google’s technology. Musk says that “Google’s current approach is that the sensor system is too expensive.” Instead, he claims that “an optical system” would be better, which is an array of cameras that can tell what’s going on just by looking at the surroundings.

Toyota demonstrated a similar system to what Musk describes back in January, and the auto maker is also an investor of Tesla, so we could see the two companies work together possibly on a new self-driving technology. However, it’ll be a long while before self-driving and autopilot cars hit the mainstream. Until then, save up your money.

UPDATE: Elon Musk said over Twitter that making autopilot Tesla cars is “important,” but it’s not yet a “top priority” for the company. Musk says that production of autopilot cars is still a “few years” away.

UPDATE 2: Musk further comments via Twitter that the report from Bloomberg is “off-the-cuff” and that there is “no big announcement here.”

[via Bloomberg]


Tesla in talks with Google over self-driving car tech [UPDATE] is written by Craig Lloyd & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.

Tesla Model S Performance Plus wrings more of out EV (and your wallet)

Tesla has turned its Model S electric car up to eleven, launching a $6,500 upgrade for the hitherto top-spec Performance version which tightens on-road performance as well as slightly stretching range. The new Model S Performance Plus pack includes wider rear tires for boosted grip, and means the EV can run for 6-12 miles longer than the regular car.

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The dampers, bushings, and stabilizer bars are all upgraded, while Tesla switches the tires to Michelin Pilot Sport PS2. They’re 20mm wider than the regular 21-inch wheels, as well as being staggered for an extra turn of acceleration.

“Performance Plus takes one of the world’s best sedans into supercar handling territory, while also improving ride quality and range” Tesla crows on its site, billing the Plus package as a no-lose option beyond the hit your wallet takes. “After hundreds of iterations affecting every detail of the suspension, our vehicle dynamics team was able to achieve the rare outcome of simultaneously improving performance, comfort and efficiency.”

According to a message sent to preorder customers, the Plus pack has bigger front and rear stabilizer bars for more predictable handling, and increased lateral stiffness in the rear suspension with springs and dampers that work more efficiently.

Turning your four-door electric car into an eco-friendly beast comes at a cost, however. First off you need to opt for the Performance Model S, which is $87,400 to begin with, and you also need to have specified the 21-inch high-performance tires, at a further $3,500. Then the Plus pack is $6,500 on top.

[via Edmunds]


Tesla Model S Performance Plus wrings more of out EV (and your wallet) is written by Chris Davies & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.

Tesla Model S now has $6,500 Performance Plus option for more range, better handling

Tesla Model S now has $6,500 Performance Plus option for more range, better handling

Current or wannabe Tesla S owners can now opt for a Performance Plus option that adds a bit of range and a lot of extra handling — and the whole idea came from none other than McLaren. After a journalist told Elon Musk that his nimble sedan was nonetheless outdone by a McLaren MP4-12C supercar (duh?), Tesla’s engineers got to work tweaking the suspension and adding new Michelin tires. The latter boosts range by 6 to 12 miles over the stock rubber, while the whole package adds more cornering grip and acceleration “while maintaining ride quality,” according to the company. Current owners can get the option retrofitted for $13,000, but if you’re still kicking tires, it’ll add $6,500 to your total Tesla S bill for the up-rated suspension bits, plus another $3,500 for the optional 21-inch wheels. Sounds tempting for a poor-man’s McLaren, and given the new financing options, you might even be able to justify it.

Update: We’ve updated this post to clarify pricing. The 21-inch wheels are not included in the $6,500 Performance Plus package.

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Source: Autoblog Green

Tesla to sell millions in environment credits during 2013

Word has it Tesla Motors will get to announce its first profit on Wednesday, May 8, a long-awaited reality for the company. According to the LA Times, the profit will happen due to the subsidization of the company through the sale of environmental credits it receives from California and to others auto makers. Estimates currently have it that credit sales during 2013 could bring in $250 million.

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According to the report, Tesla Motors receives up to $35,000 in credits for every Model S electric vehicle it sells, a substantial number on top of the car’s sticker price. The credits have been a financial staple of the auto maker, and likewise gives it a boost that is unique to Tesla Motors – no other car manufacturer gets so much in credits. As Chrysler’s CEO pointed out last month, for example, its taking a $10k hit on every Fiat it sells in California.

California has been heavily pursuing zero-emissions vehicles, with that reality reinforced last month via the publication of a roadmap by the California Fuel Cell Partnership, in which it detailed the state’s plans for rolling out hydrogen stations and the number of fuel-cell vehicles it expects to see in the coming years based on current and estimated growth rates.

Despite accusations that California is playing favorites, the state’s Air Resource Board is quoted as saying: “We are in the air pollution business, not the car business. There is some jealousy of Tesla going on here.” As far as Tesla Motors goes, the maker saw Model S sales tally in at 2,650 last year, and expects the number of sales to jump drastically this year to 20,000 units. Such a number will bring in substantial environmental credits, which will then sell for an even more substantial amount to other car makers.

[via LA Times]


Tesla to sell millions in environment credits during 2013 is written by Brittany Hillen & originally posted on SlashGear.
© 2005 – 2012, SlashGear. All right reserved.