Tesla CEO Elon Musk held an emergency conference call today to address concerns after news broke of two key executives leaving the company last week, sparking a 19 percent decline in the electric car maker’s stock value.

Addressing investors and media, Musk apologized for how the news came across and denied accusations that Tesla was looking to “dump” the news into the weekend.

“It’s actually a positive development that was misconstrued,” explains Musk, commenting that the changes are a part of a natural progression within any company, with different people better suited to different stages in a company’s life. The executives in question include Peter Rawlinson and Nick Sampson, both engineers involved in vehicle development.

Musk also waylaid concerns that Tesla was losing its brightest minds, stating that Rawlinson wasn’t the chief engineer of the new Model S sedan in its entirety, but rather the chief engineer in charge of body and chassis. “He was not responsible for powertrain, electrics or software,” said Musk.

In addition, Musk commented that Rawlinson left for personal reasons and, “that’s not a euphemism for something else.”

Looking to reassure investors and potential buyers further, Musk said he is, “highly confident” that Tesla will deliver 20,000 Model S vehicles next year.

Hints were also given about the upcoming Model X crossover, of which two prototypes have already begun testing, with a planned debut of February 9th.

In response to the assurances Tesla stock values spiked 15 percent in pre-market trading.

The Tesla Roadster (right) has impressive acceleration and handling, you also never have to buy gas for it, but at more than $100,000 it’s pretty expensive.

Their current one-car offering and the big price tag didn’t help the company. They posted a $65.1 million net loss in the past quarter, up from the $34.9 million they posted last year.

Past failures aside, it is still be early to write Tesla off. Despite losing money, they struck a deal with Daimler AG to supply  them with a powertrain for their electric vehicles.

“Even though they’re losing money, the fact that their batteries are attractive to other automakers gives them some revenue and some credibility,” said Alan Baum, an industry consultant at Baum & Associates in Michigan in an interview with Automotive News. “They are catching a few breaks in the sense that people want to do business with them.”

In addition to selling parts to other manufacturers, Tesla’s own Model S sedan, new for next year, is already sold out. The more practical iteration of their take on electric transportation also costs about half as much at $50,000 as the performance-oriented Roadster.

CEO Elon Musk said in an October 28 interview on Bloomberg TV that the company actually expects to earn a profit in 2013.

Musk remains optimistic that the company is gaining from experience in the market that will help when the Model S is released.

Their third-quarter revenue exceeded analyst expectations, reaching $57.4 million instead of $46.4 million.

GALLERY: Tesla Model S

[Source: Automotive News]

The little electric company that could has some bad news for its critics as its latest vehicle, the $50,000 electric four door sedan Model S, is sold out. According to CEO Elon Musk, Tesla has received orders for “more than 6,500″ Model S cars for next year.

Moreover, Musk claims that most orders of the Model S are from brand new buyers. “Only about 600 people who have ordered Roadsters have also bought the Model S.”

Aiming for a mid-2012 deliver date, Tesla is confident that the success of the Model S will reward them with the honor of becoming the first profitable maker of battery-powered automobiles by 2013. As of now, the company has yet to report an annual profit.

GALLERY: Tesla Model S

[Source: Bloomberg]

Electric car maker Tesla Motors had previously announced it would offer several different versions of its new Model S luxury sedan with different range capabilities, but now CEO Elon Musk has revealed those different levels will also boast varying levels of performance. Topping the lineup will be a 300 mile range-capable version that will cut almost a second from the standard car’s 0-60 time, with an impressive 4.6 second sprint compared to the 5.5 second run for the rest of the model range.

Two additional trim levels will be offered, one with a 230 mile range and another with a 160 mile range. In addition Tesla also has announced it will offer optional aerodynamic wheels that should add an additional 20 miles of range to the top level model.

Speaking at a showing for a prototype of the car in Silicon Valley, Musk commented that, “It’ll be better than anyone thinks a car like this can be. The goal with the Model S was to build the best car, not just the best electric vehicle.”

The model S will feature a unique battery swapping capability with a battery change time of roughly one minute. Plus, with a special fast-charging system even the 300 mile range model will be able to be recharged and back on the road in just one hour.

So far, over 6,000 people have placed a deposit on the model S, accounting for all of the car’s first year of production.

[Source: AutoCar]

Tesla teases us some more with the Model S electric sedan: this time, they show us three camouflaged examples running around a test track, as proof that yes, it is capable of moving under its own power.

And pretty quickly, too—the Model S is expected to go from 0 to 60 in under 6 seconds, under fully-electric power that allows it up to 300 miles before recharging. It will accomplish this with five adults and the option for two children facing backwards, like some futuristic Vista Cruiser, and will sell for around $57,000 after federal and state incentives. We know what it looks like, which renders the Palo Alto company’s secrecy moot. But alas, we’ll have to wait until next year to actually look at it up close.

Click the jump to watch the short teaser.

[Source: LA Times]

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Tesla is making a big name for themselves. As if the Model S and and Roadster weren’t enough, the battery-powered company is planning to introduce more models to their lineup: the Model X, as they plan to call it, will be an electric crossover based on the same architecture as developed by Lotus, the Versatile Vehicle Architecture (VVA). The VVA is an all-aluminum platform shared by contemprary Lotuses (Loti?), but its ability to be resized makes it perfect for both the Model X, their sedan, the Model S, an upcoming three-row SUV, as well as a coupe, to complete the metaphor of multiplying like cell biology.

The Model X is the will be an all-electric crossover with AWD capabilities, and is the vehicle after the Model S most likely to be constructed. The Roadster, Tesla’s first and most well-known product, was considered by one engineer to be a “proof of concept,” a way for the company to demonstrate its capabilities, but its production is scheduled to end soon. The Models S and X will be the real money makers for the small company, while the SUV and coupe are still years off. Let’s hope Tesla won’t bite off more than it can chew.

[Source: Car and Driver]

Here at the AutoGuide office, we are quite fond of the Tesla Roadster. We like its battery technology, its range, and most of all its amazing performance. It certainly has shown us a glimpse of the future, and thankfully its not boring.

However, the Roadster model is quite expensive and impractical and Tesla is aware of that. So to appeal to the masses, Tesla has been working on a sedan of its very own, known as the Model S (obviously taking naming inspiration from the Ford Model T).

It looks now that the Model S has gotten closer to production as the company just released a video of it rolling along silently in the countryside.  Tesla’s vehicle dynamicist Graham Sutherland says the Model S is “amazingly agile for a car of its size. It has great handling balance and poised ride with communicative steering.” He attributes these qualities thanks to a stiff body and a low center of gravity.

Tesla claims that the Model S will have a range of about 300-miles on a full charge and will accelerate from 0-60 mph in just 5.6 seconds. Sounds good to us and we hope to get our hands on one in the near future.

Follow the jump to view the video:

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California-based Tesla Motors has just released a new selection of dynamic photos of its upcoming Model S electric luxury sedan.

With a range of 300 miles on pure electric power and a 0-60 mph time of 5.6 seconds, the new Model S will provide a more functional alternative to the original Tesla Roadster which only has two seats. In fact, the Model S will hold five adults as well as two children in rear facing seats.

The interior will be luxurious with a 17-inch touch-screen display to control most of the car’s interior convenience features.

A rear-drive and an all-wheel drive version will be offered with a starting price of $57,400, which is reduced to just $49,900 after a $7,5000 federal tax credit.

The Model S is scheduled to go into production in the third quarter of 2011 as a 2012 model.

GALLERY: Tesla Model S

Yesterday California-based Tesla Motors unveiled it’s latest creation, a fully-electric luxury sedan with a range of 300 miles and a 0-60 mph time of 5.6 seconds.

Yup… the future is here! Well, almost.

Tesla’s first creation, the Tesla Roadster was wickedly fast (and fun) but not very practical with just two seats. This latest vehicle, however, seats five adults and two children in rear-facing seats in the rear-hatch area.

The asking price is a reasonable $57,400, which is reduced to 49,900 after a $7,500 federal tax credit.

As for the motor, it s a 9-inch liquid cooled unit with a 42 kWh battery storage system that is built in to the floor of the car. While Tesla does claim a 300 mile range, the base model comes with a 160-mile range, which can be upgraded to either the 300 or a mid-range 230-mile range. Tesla did suggest that owners would be able to lease additional battery packs for prolonged trips.

Total charge time is 45 minutes and Tesla claims the cost of the electricity for one full charge would be roughly $4.

Inside the car is certainly luxurious and features a 17-inch touch screen display to control many of the features inside the car and it also is fully 3G compatible.

In terms of performance, we already quoted the 0-60 mph time of 5.6 seconds. The car’s quarter mile time is rated at 14 seconds and the Model S will have a top speed of 120 mph.

Power makes it to the ground through a single-speed transmission that is situated in the rear of the car (technically known as a transaxle). The Model S will be offered as both a rear-drive version and with all-wheel drive.

Braking is also quite good with a 135 foot stopping distance from 60 mph thanks to a massive set of Brembo brakes, with 6-piston front calipers and 16-inch rotors up front and 4-piston rear calipers with 15-inch rotors.

The stopping distance is also quite good due to a relatively low curb weight (for a luxury car) of 3,825 lbs.

Those big brake sit inside a big set of 21-inch wheels that come with front 245/35/21 tires and rear 285.30/21 tires. The wheels maintain the luxury design of the Model S – which looks alarming like a Jaguar XF.

As for the vehicle’s dimensions, it is 196-inches with a wheelbase of 116.5-inches – which is very close in size to the previous generation BMW 7 Series.

As mentioned above the future of the electric car isn’t quite here yet, the Tesla Model S won’t go into production until the third-quarter of 2011.

For more information visit:

http://www.teslamotors.com/

[Source: New York Times]

GALLERY: Tesla Model S

More on the Tesla Model S after the jump:

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Ahead of Tesla’s media event and press conference, set to be held today at noon Pacific Time, three images of the electric car company’s latest project have leaked onto the interwebs.

Two of the three photos depict a vehicle that looks alarmingly similar to Jaguar’s XF sedan – a car on which it might just be based. Remember, the Tesla Roadster is essentially a Lotus Elise underneath. We might even go so far as to say the Tesla model looks better than the Jag – especially with that stunning panoramic glass roof.

Oh… and those wheels are VERY SLR.

The third photo is of the incomplete interior of the car, with hi-tech looking gauges and what appears to be a large LCD screen for HVAC and Audio controls.

The new Model S from Tesla will be priced from $57,400 and be available for a $7,500 federal tax credit.

There is no word on what the specific powerpant will be in the Model S but we’ll be sure to bring you more details later today.

GALLERY: Tesla Model S