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 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

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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.

“The first Alpha is amazingly agile for a car of its size. It has great handling balance and poised ride with communicative steering. Just goes to show what combining a low center of gravity with a very stiff body structure can achieve”, said test drive Graham Sutherland.

According to Tesla, Alpha cars will be tested in the coming months in all sorts of climatic conditions, which should help engineers improve the EV’s driving dynamics.

Tesla’s second model after the Roadster offers seating for five adults and two children. The Model-S' drivetrain consists of an electric motor coupled to a single-speed transmission and a floor-mounted lithium-ion battery pack. Customers will be able to specify their cars with one of three available battery packs offering a driving range of up to 160, 230 or 300 miles (258, 370 or 483 kilometers).

Roughly the same size as a BMW 5-Series, the Model S sprints to 60 mph (96 km/h) in 5.6 seconds and can reach a top speed of 130 mph (209 km/h). Production is set to begin in 2012 and Tesla is currently taking orders, with the base price set at US$49,000, including a US$7,500 Federal tax credit.

By Csaba Daradics

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Fulton Innovation Wirelessly Charges Tesla Roadster

A few days ago we brought you the news that GM will begin offering in-car wireless charging mats for mobile phones as an option from Q3 2012. These devices, that are making big waves at trade shows both in the U.S. and around the world, do away with the pesky cords and bulky adapters of old, replacing them with two conductive metal plates (i.e. one on the back of your phone and one in your car).

So imagine if you could charge your electric car this way. It should be simple, right? You’d just need to upscale it to suit charging a bigger battery. Well, at the 2011 CES technology trade show in Las Vegas, Fulton Innovation showed such a gadget by wirelessly charging the be-all and end-all of electric vehicles: the Tesla Roadster.

The eCoupled Powerspot, as it is called, works on the same principles as its smaller cousins and can even provide you with charging updates through a smart phone app. Do you want to keep track of how much it costs to recharger your electric car? The app can do that too.

There’s even a video, though admittedly it’s not very interesting. No electrical arching or unearthly humming noise here, I’m afraid; just a silent, practical vision for the future. You can check out the video for yourself, if you’re so inclined. There’s no indication of when this technology will be available, though I suspect we will be seeing it within the next five years or so.

It has, after all, been used by Hino to recharge electric busses for at least the past two years. It’s not so much a matter of if but when, and whether it can be made cost effective. One thing is for sure, the future for electric vehicles just got a little brighter.

By Tristan Hankins

Via: Jalopnik & The Next Web

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Brabus Plugs into the Tesla Roadster with New Sport Green Package

In an effort to provide added value to its customers, Brabus’ Zero Emission division joined forces with German electricity company RWE and created the Green Package for the Tesla Roadster. Along with a host of exterior and interior upgrades, the 'green' package includes a quick charging station for the owner’s garage and 30,000 kilometers (18,641 miles) worth of electric power from RWE. And there’s more; with every purchase, buyers also receive a one-year pass for free use of all public RWE charging stations.

Compared to your standard household power outlet, the quick charging station gets the job done three times faster. That means the Tesla Roadster can be fully charged in less than six hours for an operating range of some 350 km (220 miles).

Being that Brabus is a tuning firm, the company also spiced up the EV. Starting with the exterior, the Germans added a carbon fiber lip to the front bumper and incorporated LED daytime running lights into the front grille. At the rear we can find a discrete carbon fiber wing and diffuser.

The body can be painted in any color while the car rides on 18-inch front and 19-inch rear Monoblock S alloys, shod in 215/35 front and 255/30 rear tires. The alloys are finished in black and have a subtle outline matched to the exterior color.

As with its previous Tesla offerings, Brabus adds a sound generator, which replicates the grunt “of a typical V8, a racecar or two futuristic soundscapes”, according to the company.

The interior can be specified in a combination of perforated leather and Alcantara, but other options are also available, such as scuff plates with illuminated Brabus logos and even a leather-covered floor.

By Csaba Daradics

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Tesla Recalls 439 Roadsters Over Potential Fire Hazard

Tesla Motors has initiated a voluntary safety recall on its battery-electric Roadster 2.0 and 2.5 models following the discovery of a potential fire hazard involving an auxiliary power cable.

The California-based automaker said it became aware of the problem after a single incident where an auxiliary cable "chafed against the edge of a carbon fiber panel in the vehicle causing a short, smoke and possible fire behind the right front headlamp of the vehicle."

The affected 12 volt auxiliary cable is located in the passenger wheel well behind the right headlight. It is part of a backup system that provides power to systems including the front and rear lights, turn signals and airbags in the event the primary 12 volt power system fails or drops below a certain threshold.

Tesla said it has assured owners of the 439 affected Roadsters that it is merely a precautionary measure and does not affect the main battery pack or power systems in any way. It also does not affect Roadster 1.5 models (vehicles with a VIN ending in 500 or before), as these vehicles do not have the 12 volt auxiliary cable installed.

Owners of the affected models are being notified by email and post, and can make an appointment for Tesla service staff to inspect the cable and install a protective sleeve to prevent any further incidents. This can be done at the owner's home or place of work and takes approximately one hour. The appropriate regulatory agencies have also been notified.

By Tristan Hankins

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