"The Roadster is quickly becoming the vehicle of choice for discriminating Europeans," said Tesla CEO Elon Musk. "Many of our customers are die-hard European sports car aficionados who switch to Roadsters over concern about climate change and the dangers of foreign oil addiction. And some customers buy the Roadster simply because it will beat the Porsche 911 or Audi R8 off the line every time."
Tesla executives will debut the production version of the Roadster Sport on Sept. 15 at the 2009 Frankfurt Motor Show. The event also marks the European debut of the Model S, an all-electric, seven-passenger sedan that Tesla plans to begin producing in late 2011.
The Frankfurt show is the first to feature Tesla’s full 2010 model-year lineup — the Roadster Sport and the second-generation Roadster, or Roadster 2. Additionally, Tesla executives will keynote the SupplierBusiness Conference Sept. 17 in Frankfurt.
The Roadster 2, which Tesla is building and shipping to customers now, features an array of enhancements. Those include a more powerful heating, ventilation and air-conditioning system, more comfortable seats and a far more luxurious dashboard and cabin. The interior is quieter than its predecessor, and the ride is forgiving over harsh surfaces — without sacrificing handling performance.
The Roadster Sport, which Tesla is also building and shipping to customers now, is an even higher performance car that does 0 to 100 kmh in 3.7 seconds, compared to 3.9 seconds for the standard Roadster. The Sport includes a more powerful motor, custom-tuned adjustable suspension and forged wheels. A customer’s Roadster Sport sprinted the quarter-mile in 12.643 seconds in late July, setting a new record in the U.S. National Electric Drag Racing Association.
The acclaimed Roadster — which has better acceleration than a Porsche 911 or Audi R8 and is twice as energy efficient as a Toyota Prius — is the only highway-capable electric vehicle for sale in Europe or North America. It’s the first EV to travel more than 300 km per charge and the first EU- and US-certified Lithium-Ion battery electric vehicle.
The Roadster has an estimated average range of about 400 km per charge, and it produces zero tailpipe emissions. In April, the Roadster set another significant EV record when it traveled the entire 390-km course of the Rallye Monte Carlo d’Energies Alternatives on a single charge — from Valance, France to Monaco, through the Alps. The Roadster was the only car to finish the course — and at the end it still had 61 km left on the charge.
The Roadster qualifies for numerous tax benefits in Europe, including sales, luxury and use tax waivers in Scandinavia and exceptional incentives in Holland, making the car an unquestionable bargain compared to internal combustion engine vehicles. The relatively high cost of petrol in Europe dramatically lowers Tesla’s total cost of ownership relative to gas-guzzlers. Eventually, Tesla expects sales to be roughly split between North America and Europe.
Tesla Motors attains profitability milestone
Tesla Motors attained a significant milestone in July when it achieved overall corporate profitability with approximately $1 million of earnings on revenue of $20 million.
Tesla reached overall corporate profitability while continuing to develop the all-electric Model S sedan and opening regional sales and service centers. Profitability arose primarily from improved gross margin on the Roadster 2, the second iteration of Tesla’s award-winning sports car.
Tesla shipped a record 109 vehicles in July and enjoyed a surge in new Roadster purchases. In the third quarter, the privately held company will make significant deliveries to European customers while expanding its presence in several countries.
“We achieved a bottom-line profitability thanks to a tremendous amount of hard work by the Tesla team to improve quality, while simultaneously reducing costs on the Roadster,” said Tesla CEO and Product Architect Elon Musk. “This also shows that there is strong demand for a car that is unique in offering high performance with a clean conscience. Moreover, customers know that in buying the Roadster they are helping fund development of our mass market electric cars.”
The highly acclaimed Roadster — faster than a Porsche and twice as energy efficient as a Toyota Prius – is the only highway-capable electric vehicle for sale in North America or Europe. It’s the first production EV to travel more than 200 miles per charge and the first US- and EU-certified Lithium-Ion battery electric vehicle. With an estimated range of 244 miles per charge and zero tailpipe emissions, it offers supercar performance with a clean conscience.
The Roadster 2, which Tesla is building and shipping to customers now, features an array of enhancements. Those include a more powerful heating, ventilation and air-conditioning system, more comfortable seats and a more luxurious dashboard and cabin.
Last month Tesla began delivering the Roadster Sport, an even higher performance car that does 0 to 60 mph in 3.7 seconds, compared to 3.9 seconds for the standard Roadster. The Sport includes a more powerful motor, custom-tuned suspension and forged wheels. A customer’s Roadster Sport sprinted the quarter-mile in 12.643 seconds in late July, setting a class record in the National Electric Drag Racing Association.
Financing Now Available
Last month, Tesla announced Roadster financing through Bank of America. Financing means the Roadster can have lower total monthly costs than a gas-guzzling sports car with a similar sticker price. Prospective customers may complete loan documents in Tesla’s showrooms or online.
The Roadster is six times as energy-efficient as comparable sports cars – yet it does not require routine oil changes or exhaust system work. Roadsters have far fewer moving (and breakable) parts than internal combustion engine sports cars, which need replacement such as spark plugs, pistons, hoses, belts and clutches. The Roadster costs roughly $4 to fully recharge – a bargain even when gasoline costs less than $1 per gallon.
Tesla sells cars online and at showrooms in California (Menlo Park and West Los Angeles), New York City, Seattle and London. Tesla is rapidly expanding its network of showrooms this summer with stores in Chicago, South Florida, Washington DC, Toronto, Munich and Monaco.
Tesla has developed an industry-leading mobile service team, including highly skilled technicians who make “house calls” to customers’ homes or offices in every region where Tesla sells cars. Electric vehicles have far fewer moving (and breakable) parts than internal combustion engine vehicles. They qualify for federal and state tax credits, rebates, sales tax exemptions, free parking, commuter-lane passes and other perks.
Tesla, which in June won Department of Energy approval for $465 million in low-interest loans, is deep into the development of the Model S. The all-electric sedan will have a base price of $49,900, roughly half the price of the Roadster. Reducing unit cost on the Roadster is helping Tesla to bring the Model S to market at a vastly lower price point, paving the way to mass-market EVs for mainstream buyers.
In addition to the Model S program, Tesla is jointly developing an electric version of the popular Smart car with Daimler. The first of an initial test fleet of 1,000 electric Smart cars are expected to be on the road in late 2009.
Tesla gets loan approval from US Department of Energy
Tesla Motors has received approval for about $465 million in low-interest loans from the US Department of Energy to accelerate the production of affordable, fuel-efficient electric vehicles.
Tesla will use $365 million for production engineering and assembly of the Model S, an all-electric family sedan that carries seven people and travels up to 300 miles per charge.
The Model S has an anticipated base price of $49,900 after a $7,500 US federal tax credit. It has lifetime ownership costs equivalent to a conventional car with a sticker price of $35,000, thanks to the lower cost of electricity vs. gasoline and a relative lack of service and maintenance. Tesla expects to start Model S production in late 2011 in a state-of-the-art assembly plant employing about 1,000 workers.
Tesla will use $100 million for a powertrain manufacturing plant. The facility will supply all-electric powertrain solutions to other automakers, greatly accelerating the availability of mass-market EVs. The new facility will employ about 650 people.
Tesla is in the final stages of negotiation for facilities in California.
The loans are part of the Advanced Technology Vehicle Manufacturing Program, which provides incentives to new and established automakers to build more fuel-efficient vehicles. Created in 2007 and appropriated in September 2008, the $25 billion ATVM aims to reduce America’s dangerous dependence on foreign oil and create “green collar” jobs. The program is entirely unrelated to the stimulus package or the so-called “bailout” funds that General Motors and Chrysler have received.
“Tesla will use the ATVM loan precisely the way that Congress intended — as the capital needed to build sustainable transport,” said Tesla CEO and Product Architect Elon Musk. “We are honored that the US government selected Tesla to be among the first companies to participate in this progressive program.”
Building on Proven Technology
The Model S sedan features exceptional performance, styling and utility, with unrivaled cargo and passenger space. Its floor-mounted powertrain is the culmination of a half-decade of engineering in the heart of California’s Silicon Valley, where Tesla developed the Roadster.
The highly acclaimed Roadster is the first production battery electric vehicle to travel more than 200 miles per charge and the first US- and EU-certified Lithium-Ion battery electric vehicle. With an estimated range of 244 miles per charge and zero tailpipe emissions, it’s the first production vehicle to offer supercar performance with a clean conscience.
Tesla has never applied for federal funds for the Roadster, an American sports car that consumes no gasoline whatsoever. Tesla expects the Roadster business unit to be profitable in the third quarter. Privately held Tesla will finance sales and marketing for the Model S through private capital.
Tesla has delivered more than 500 Roadsters to customers. Later this month, Tesla will begin delivering its second-generation Roadster and Roadster Sport, an even higher-performance vehicle.
Teslas do not require routine oil changes or exhaust system work. They have far fewer moving (and breakable) parts than internal combustion engine vehicles. They qualify for federal and state tax credits, rebates, sales tax exemptions, free parking, commuter-lane passes and other perks. The Model S costs roughly $5 to drive 230 miles – a bargain even if gasoline were less than $1 per gallon.
The Model S, which carries its charger onboard, can be recharged from any conventional outlet. Three battery pack choices will offer a range of 160, 230 or 300 miles per charge. Tesla is taking reservations online and at its two showrooms in California.
Tesla will expand its network of showrooms this summer with stores in New York, Chicago, Seattle and Miami. Tesla will open its London showroom June 25, followed by Munich and Monaco. Additional stores will be opened in Washington DC and Toronto.
Tesla Motors remains the only automaker worldwide manufacturing and selling highway-capable EVs. The company achieved overall corporate profitability in July and has delivered about 700 Roadsters to customers so far. Tesla’s goal is to produce increasingly affordable cars to mainstream buyers — relentlessly driving down the cost of EV technology. Tesla also sells patented power train components to other automakers, including the battery pack and charger for the electric Smart, built by German carmaker Daimler.
The Roadster beats nearly every other car for acceleration yet is twice as energy efficient as a Toyota Prius. With an EPA-estimated range of nearly 400 km per charge, it can cost EUR6 to refuel and is faster than street-legal Porsches and Ferraris. The Roadster consumes no gasoline whatsoever, never needs routine oil changes and requires far less maintenance than internal combustion engine vehicles or complicated hybrids, resulting in dramatically lower total cost of ownership than a conventional car.
Tesla sells cars online and operates showrooms in New York, Seattle, London, West Los Angeles and California’s Silicon Valley. Tesla will soon open stores in Chicago and Munich, and it’s planning stores in South Florida, Washington DC, Toronto and Monaco this year.