AutoGuide News Blog
The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
When you’ve got a vehicle that’s as hyped as Tesla‘s Model S, you need to keep interest alive, especially if you’re pushing the boundaries of automotive technology and looking to recoup at least some of your investment.
The all-electric Model S, which aims to deliver a 0-60 mph time of around 5.6 seconds, a top speed of 125 mph and a range of up to 300 miles, has witnessed a long gestation period, though Tesla says it plans to have the car, which will be built at the old NUMMI plant in Freemont, California, on sale by this summer.
In the meantime, in order to try and keep the Model S the hot topic of conversation, Tesla has released this video, in which designer Franz von Holhausen and sales supremo George Blankenship discuss the merits of the all-electric, high performance sedan.
Tesla says the car will have a base retail price of $57,400 (before tax credits) and will come with a choice of three different battery systems (40 kw/h for a 160 mile range, 60 kw/h for 230 miles and the 85 kw/h 300 mile range topper), plus four different trim levels, Model S, Model S Performance, Signature and Signature Performance (the latter three including such features as air suspension and Nappa leather trimmed interiors).
Whether or not the Tesla Model S will actually live up to the hype remains to be seen, nonetheless, the company is doing what it can to ensure that when the first cars are eventually delivered, they don’t end up suffering from the DeLorean syndrome.
Stock values for the Palo Alto, California based Tesla Motors took a nose dive after the official announcement of two executives would be leaving the company.
A couple of months before Tesla plans to launch its all electric Model S sedan, Ricardo Reyes, a spokesman for the company, announced the departure of two individuals who were involved in the development and design of the car. Peter Rawlinson, Tesla’s vice president and chief engineer, and Nick Sampson, supervisor of vehicle and chassis development are the two executives in question.
This announcement has caught the attention of anyone holding stocks in the company, and the result is a record %19 loss of value of the company’s stocks. Tesla received a $465 million U.S. loan to start production of the Model S in Fremont, California, which must have share holders worrying even more knowing that if the car doesn’t sell, bad times await. Some more dismal numbers from Tesla include a negative -110.95% loss in the net profit margin as well as losses in its operating margin which remained at -109.92%.
The Model S will be on sale later in the year, and the initial offering will carry a $49,900 price tag after rebates and incentives.
[Source: Galaxy Stocks]
After much speculation by the automotive community, Tesla has finally released U.S. pricing on its all new Model S. The Model S will go into production in 2012 and will be undeniably one of the best production all electric cars on the market.
The Tesla will have a base price of $49,900 after federal tax credits. The base model will get you a 40 kWh battery pack that will accelerate 0-60 mph in 6.5 seconds and have a range of 160 miles when traveling at an average speed of 55 mph.
There are four packages in total that consumers can choose from: a 40 kWh battery pack, a 60 kWh pack, an 85 kWh pack and also an 85 kWh pack that is coupled with the performance package which includes active air suspension with sport tuned traction control, performance wheels and tires, and standard leather seats and carbon fiber accents.
The 60 kWh has an MSRP of $59,900 and packs a range of 230 miles and a 0-60 mph time of 5.9 seconds. The truly impressive stats come from the 85 kWh battery pack which will get you 300 miles down the road on one charge and will accelerate 0-60 mph in 4.4 seconds. The 85 kWh without the sport package will retail for $69,900 after federal tax credit. With all the bells and whistles of the sport package included, the top of the line Tesla Model S will sell for $79,900.
GALLERY: Tesla Model S
Telsa Motors is expanding its presence in North Amercia with three new retail locations.
The automaker is opening locations in Bellevue, WA, Chicago, IL, and Newport Beach, CA, in November that will showcase the new Model S, the world’s first electric premium sedan.
The first location in Bellevue opened this past weekend, with the Chicago store opening on November 12 and the Newport Beach store on November 18. All three of these locations already have service stations open for business. These retail stores will also feature hands-on exhibits, interactive touch-screen experiences, and a design center where customers can customize their own Model S.
“Tesla is reinventing the way people buy cars, with stores designed to engage and inform prospective customers,” said Tesla CEO and Co-founder Elon Musk. “Located in high foot-traffic locations, Tesla stores are designed to introduce people to Tesla’s advanced electric car technology and show the benefits of driving electric. Tesla stores lay the groundwork for the distribution of Model S today and increasingly affordable electric vehicles tomorrow.”
Along with the upcoming Model S electric luxury sedan and a Model X crossover, American electric car maker Tesla Motors is planning a successor to its break out model, the simply-named Roadster. Expected to arrive by 2014, the car will be underpinned by a new “third generation” flexible platform.
The new chassis will be so flexible, in fact, that Tesla founder and CEO Elon Muskhsa said it will be used for a BMW 3 Series rival as well. Calling it a more “mass-market” platform, Musk says it, “will spawn a range of cars in the next four to five years.”
In addition to the launch of the Model S, look for the Model S to arrive next year, possibly followed by a convertible model.
Tesla‘s Model S sedan is looking ready for production, as evident by these new photos released by the electric car manufacturer. Based on its aesthetics alone, the Model S will be very competitive in the mid-size luxury market, featuring an aggressive front end with a very sleek and stylish body. Unfortunately we’re looking at a late next year sale date now and we’re hoping it’ll be worth the wait.
The Model S will be starting at $57,000 but will be supported by a $7,500 federal tax credit – which is a pretty nice incentive to get yourself behind the wheel. This base model will come with a 160-mile range battery pack, which should be sufficient for the every day commuter. Those looking for something larger can spend $67,000 for the 230-mile pack while the 300-mile pack will run you $77,000.
Those really interested in getting themselves a Model S should be ready to put their money where their mouth is. The first batch of Model S’ to be produced will all be 300-mile pack versions, and will be labeled as a limited-edition Model S Signature version. And for that, Tesla requires a real-life commitment of $40,000 – though it is a refundable deposit. Those interested in the cheaper versions merely have to leave $5,000 at the table.
GALLERY: Tesla Model S Alpha
They already have the Model S sedan, which is set to go on sale in 2012, but now they are also working on a crossover vehicle, which is referred to as the Model X.
Tesla is hoping to debut this new model by the end of 2011 (perhaps at the next L.A. Auto Show), is offering a secondary stock offering of 5.3-million shares in order to raise funds for the project.
The Model X will utilize the same technology as the upcoming Model S, but offer it in a more practical platform. If all goes according to plan, this model will hit showrooms in 2014. Plans for the car were revealed in filings with the U.S. Securities and Exchange Commission.
The Tesla Roadster will end its production run by December of this year.
[Source: Inside Line]
Tesla Motors share price feel by roughly 15 percent Monday as company insiders rushed to dump their shares after the expiration of a 180 day limit on selling their stock holdings.
The shares being sold were previously not available on the open market, and were reportedly offered to investors and other insiders as a form of compensation. Tesla’s stock rose more than 40 percent since its debut towards the end of June, and the company received $465 million in loans from the Department of Energy to help develop its Model S sedan.
As of 11:30 AM Tuesday, Tesla’s share price was steady at $26, up from Monday’s close of $25.55
[Source: Automotive News]
With electric versions of the Audi R8 and Mercedes-Benz SLS on the horizon, Toyota is looking for its own electric halo vehicle to bring the fight to the Germans, similar to how the Japanese automaker did with their Lexus LF-A flagship.
With electric motors at all four wheels and selectable driving programs, the Toyota mimics the German’s layout, but aesthetic details are still murky. One thing we can be sure of is that Toyota’s new partner in crime, Tesla Motors, would be enlisted to help with the project, thanks to their experience with the Tesla Roadster.
Let’s hope that Toyota’s EV project won’t take them another decade to complete, similar to the LF-A.
[Source: Motor Trend]
Tesla Motors and Toyota have announced that they are working on an all-electric version of the Toyota RAV4. Tesla expects to deliver the prototypes by the end of this year, with the car going on sale in 2012.
Electric vehicle nerds will remember that this isn’t the first time an electric RAV4 has been sold. Toyota offered the RAV4 EV from 1997-2003. 328 RAV4 EVs were leased sold to customers in California, and the cars were destroyed once customers returned them at the end of their lease period. While some managed to survive, Toyota initially did not want to support the vehicles, which were based on the obsolete first-generation RAV4. Hopefully Toyota is better prepared to handle the 2nd generation RAV4 EV, and with a $50 million dollar investment in Tesla, we’d expect that they have some more inclination than the first time around.
Hit the jump to read the official press release
Most of us are probably more comfortable looking at a dyno graph than any sort of financial data, but believe it or not, the AutoGuide staff actually have interests outside of cars, and for some of us, that includes finance.
The Tesla IPO was one story that came to our attention, as it was the perfect nexus of technology, automobiles and financial markets. Tesla has gotten a lot of publicity among the IPO happy tech-crowd – the same one that was responsible for two equity bubbles this decade, but not a lot of love from the car or business community, who are skeptical of a company that has promised the moon but delivered relatively little.
As you can see from the chart, the Tesla IPO opened at $17, and rocketed up to $30.41. The stock is now worth $16.63. Seeking Alpha, another financial blog, claims that some of the up and down patterns at the very top of the graph indicate that the stock is being flipped quickly and constantly by speculators (perhaps the computerized HFT machines) looking to make a quick profit by taking advantage of the minor price differences throughout the day. This is in stark opposition to the received wisdom that eco-conscious small-time investors would buy and hold the stock due to the cachet and “green” disposition of the company.
Aside from the usual Wall St. market manipulation nonsense analysts are taking an increasingly skeptical view of Tesla Motors; the company’s product plans are hazy, the delays constant and the volumes low. The reports coming out of the media that Tesla executives are treating it like a “Silicon Valley venture” rather than a company that makes tangible products is worrisome for some, but all we can do now is sit back and track it. What’s most interesting is how Toyota will fare in this situation. It traded its NUMMI plant for $50 million in Tesla stock, and if it goes belly up, Toyota will have to eat a substantial loss.
American electric car maker Tesla is about ready to launch its IPO and go from a small niche market automaker to possibly a large international electric vehicle powerhouse. But in order to make hat next big step CEO Elon Musk needs money, and lots of it. So before he opens up his company to the market, Musk is shopping it around, hoping to convince investors with a business model for the future.
In a presentation that Musk will use to sell Tesla to investors, we get our first glimpse at what the company is looking to do in the future – including the addition of three new models. On slide #19 of the presentation we see plans to develop not only the Model S luxury sedan, but also a cabriolet, a crossover and a van (presumably to target the commercial vehicle fleet market that Ford is about to control with its new Transit Connect EV). As for that Cabriolet, it looks like a major shot across the bow of rival Fisker, and its upcoming Sunet convertible.
As much as we still have significant doubts abut Tesla as a mainstream automaker, there’s a lot of promise and it’s not just internet bloggers that think so, with Tesla having singed deals in the last 12 months with both Daimler and Toyota.
[Source: Newsbasis via Autoblog]
The end goal for most venture-capital financed start-ups is to issue an IPO and help get some money into the hands of those investors brave enough to give the company money at the early stages. Tesla Motors, perhaps the first Silicon Valley car company(and headed by Elon Musk, a former dot-com executive), is about to do just that, after filing papers with the Security and Exchange Commission, detailing terms of their IPO.
Tesla is expected to issue roughly 11 million shares of the company, with the shares going for $14 to $16 each. As a reward for the IPO, Toyota will invest another $50 million in the company, as part of an alliance between the two companies, which includes the NUMMI auto plant in California, and a new mass market sedan in 2012.
So far, Tesla only sells a 2 seat sports car, the Tesla Roadster, but the company plans to introduce a high end sedan, known as the Model S, in the near future. So far, Tesla has continually lost money each quarter, with total revenues of just under $150 million.
[Source: Detroit News]
At 38 years old, Elon Musk has already lived a life filled with more adventures and pitfalls than most of us can fathom. The founder of PayPal, Tesla Motors and SpaceX was also a one time owner of a McLaren F1, the holy grail of car collecting, and served as the inspiration for Tony Stark, aka Iron Man, in the latest films inspired by the Marvel Comic franchise.
Unlike the real Tony Stark, Musk is currently mired in a messy divorce, and the latest court filings show that he is pretty much flat broke, relying on “emergency loans” from friends, which we presume is the wealthy billionaire version of asking “Dude, can I crash on your couch?”
While various gossip blogs are injecting their own analysis into the mix (it doesn’t help that Musk left his wife for 24-year-old actress Talullah Riley), The Truth About Cars’ Bertel Schmitt managed to extrapolate just how the divorce problems will affect Tesla Motors (emphasis added by Autoguide).
If Tesla’s IPO is successful, his finances would look brighter. But there are two problems. The court has slapped a protective order on Musk’s holdings, says Venturebeat. He won’t be able to liquidate significant holdings without first getting permission from his ex-wife. That’ll cost him. Then, there is the matter of how Musk’s precarious finances will affect the IPO.
Should the IPO fail, then no money from Toyota – it’s contingent on the successful IPO. We, the U.S. taxpayer likely won’t see any of the money the Department of Energy loaned Tesla. Should the IPO succeed and the Tesla stock sink afterwards, then you won’t have to wait long for an onslaught of lawyers. The dirty laundry most likely will feature prominently.
If you think that’s bad, wait till you see what Musk’s ex-wife is asking for in the divorce settlement.
[Source: The Truth About Cars]