Today,Tesla announced that it was going to hire former Apple and Gap employee George Blankenship, in the hopes that his expertise would change the car buying experience.
Blankenship has a total of thirty years of experience in retail and real estate and is known for being the creator of Apple’s brand building retail strategy. He is often credited with creating one of the best retail strategies in history during his time with Apple.
He will work closely with Elon Musk, Tesla’s founder and CEO, in the hopes of creating the ultimate buyer experience. They hope to one day make their dealerships more stylish than anything we have ever seen.
“I’m excited to create a retail experience that is as thrilling as my first drive of the Tesla Roadster,” said Blankenship.
Part of the new strategy is to build new stores in Tokyo, Japan, Toronto, Canada, and Washington DC. Get ready for the next generation of the car showroom.
After an early interest in Tesla Motor common stock, things haven’t been so peachy, as a sell-off has given a big time reality check to long-term investors. Shares of the company closed on Tuesday at $16.11, down 16 percent for the day.
Near the end of the trading day, the stock fell as low as $15.83. The final closing price was 47 percent lower than the high mark for the stock, which was $30.42. That high water mark occurred on the second day of the stocks trading.
Around 13.3 million shares of the company were sold during the first public offering at a price of $17. This big first day helped Tesla raise $226.1 million for the company.
Many people believe that the reason for the stocks plummeting is down to the price of the cars. Few people are able to buy a car worth $109,000, especially an electric car. Other reasons include recall issues, delays with the Model S , and the company’s high debt levels.
The Tesla Model S should be out around 2012 at a cost of $50,000. The company plans to make around 20,000 sedans every year.
Over the past few weeks, we’ve heard so much of Tesla beginning to float an IPO and becoming the first automaker since Ford way back in 1956 to do it. Now it looks like it’s paying off. Big time.
On the first day of trading, common stock of Tesla Motors skyrocketed 41 percent on the Nasdaq stock exchange. With shares opening at $17, the number dipped a bit in the opening hours before steadily increasing the rest of the day, topping at $25 at one point before settling in at a closing rate of $23.89.
Needless to say, the overwhelming response and demand for Tesla shares has company CEO Elon Musk grinning from ear to ear. "The response from investors has been tremendous,” he said. “We increased the size of the offering and the demand was still enormous, so we increased the price to a dollar above the top of the range and we still had massive, overwhelming demand.
Tesla has unveiled a new version of their electric Roadster today. It is called the Roadster 2.5 and, according to Tesla, includes improvements in both design and technology. Some of these inclusions are a new front fascia, rear diffuser, improved seat comfort, and internal finishes. It also includes a new front fender liner material, sound dampening, and a large touch screen navigation system.
"Although development of the Model S is our main focus, this shows that we still care a great deal about improving the Tesla Roadster ," said Tesla CEO Elon Musk. "These improvements are a direct result of customer feedback and come only a year after release of Roadster 2.0, showing an exceptionally rapid pace of innovation. Where feasible, we will also offer existing customers the ability to purchase the upgrades now available in version 2.5."
The new Tesla Roadster 2.5 is currently available for order, with deliveries beginning shortly thereafter.
Looking for a good read about futuristic automobiles and gorgeous women, Playboy has your fix. In the July issue of the long running men’s magazine, reporter Ken Gross will be looking at six new cars that will be coming to showrooms near you. Of course, readers can just get the information for the vehicles here, but then what would be your excuse to buy the magazine? Our recommendation? Get your car fix here and then pretend to read the article when you buy the July issue of Playboy.
The first car on the list is the new Porsche 918 Spyder. This car is a serious case of have your cake and eat it too. It has the appearance of the old Carrera GT, which isn’t really a bad thing from a company that created the horror that is the Cayenne. The 918 will be able to reach 62 miles per hour in just 3.2 seconds thanks to its 500 horsepower V8 and a pair of electric motors. The amazing thing is this car’s gas mileage. Porsche claims that this car can get 78 miles per gallon with just 70 grams of CO2 per kilometer. Stunning.
The Honda Motor Corporation has helped upstart Tesla Motors Inc in the financial department, as the Japanese automaker has bought environmental credits from Tesla. Not the most glamorous way to turn a profit.
In 2008, Tesla generated $13.8 million from selling low emission vehicle credits needed by larger automakers to help with California’s wacky pollution rules, the company said to Business Week. Honda was the only named customer, as it bought 368 cars and contracted an additional 287 cars, according to the filing.
Tesla has sold around 1,000 electric cars, at $109,000 each, mostly to film stars and environmentalists. CEO Elon Musk aims to build the Model S , which will cost $57,000 and help Tesla sell more cars to normal citizens. The company has lost money every year since it was created in 2003.
“Having these credits gives us some flexibility for the future,” said Robert Bienenfeld, Honda’s U.S. senior manager for environment and energy strategy. “Whether we’ll need to purchase more, I can’t say.”
Tesla officials have declined to discuss Honda’s purchase of credits. In the company’s filing, there was another automaker on the list, but they weren’t identified.
The Tesla Roadster is already a success on the market - there are more than 1,200 units on the streets despite its costly price tag, but the company is not stopping there. In 2012, Tesla will also be bringing in a Model S sedan said to be priced at about half the price of the Roadster. And Tesla is not stopping there.
In a recent interview, Tesla chairman Elon Musk talked about the company’s future plans and they sounded impressive. The first generation Roadster will go out of production in 2012, but the company is preparing for a successor for the next year. New models will also be unveiled in 2013 and 2014, including a crossover. The future products will also be four-wheel drive models.
And the good news keeps coming as Tesla announced that with every new model, they are focusing on making them more affordable "and by the time the third one arrives, it’s expected to be attainable for mainstream customers, in contrast to the expensive, performance-oriented Roadster."
We are happy that Tesla has such a positive outlook into its future considering they only have one model cruising the streets at this point. We just hope they have the cash flow to substantiate such an elaborate car producing scheme. Can’t wait! Maybe they firmly believe that of the whole car-making thing doesn’t work out, they can just sell batteries, chargers, and electric drive train technology to other suppliers. That’s the plan they have outlined anyway.
Due to popular demand – who knew? – Tesla has decided to extend sales of the Tesla Roadster into 2012. What’s more: they’re also ramping up production of the electric sports car by 40%.
According to the latest Tesla Motors newsletter, Tesla is also expanding its reach to other previously untapped regions, including Asia and Australia.
This latest announcement is great news for fans of Tesla, especially considering that Tesla previously announced that they would cease selling the Roadster after 2011. But now that the company has come to terms with a number of important suppliers, it’s beginning to look like the Roadster will have an extended lease in life.
Plus, it helped that a lot of people continue to clamor for the car, which made the decision to push sales into 2012 that much easier.
150 years of existence is a remarkable achievement in its own right. Staying relevant and respected throughout those years like TAG Heuer has done is worthy of praise and adulation.
As part of their sesquicentennial celebration, TAG Heuer has tied up with Tesla to create a special edition Roadster for the Geneva Motor Show
The car features a unique interior by Tesla Chief Designer Franz von Holzhausen, which incrporates TAG Heuer avant-garde design elements and a specially designed center console due to host TAG Heuer’s cutting edge concept watch, a TAG Heuer Meridiist mobile phone as well as a one-fifth second Heuer Limited Edition Stopwatch. It comes painted in Foucault Field Gray, which embodies the innovative spirit of both TAG Heuer and Tesla.
The special-edition 2010 TAG Heuer Tesla Roadster can be found at the Tesla booth during the public show days and from March 4-14, the car will be at the Palexpo-Geneva conference center. After that, the car will be driven to Baselworld - the world’s largest watch exhibition - for a special event on March 18.
Further details behind the tragedy that struck Tesla Motors after a Cessna 310 plane carrying three of its employees crashed into an East Palo Alto neighbourhood are being revealed, including the identity of all three employees on-board the plane when the crash occurred.
It was already reported yesterday the identity of the pilot – 56-year old Doug Bourn, a senior electrical engineer for Tesla – but now, the two other employees onboard have been indentified – Andrew Ingram, 31, an electrical engineer for Tesla and Brian M. Finn, 42, a senior manager of interactive electronics. Incidentally, both Finn and Ingram are from the same Palo Alto district where the crash occurred with Finn only living two blocks away from where the plane crashed.
Details surrounding the cause of the crash are still unknown although a few reports have been released saying that a mechanical problem occurred shortly after the plane lifted off, causing it to crash soon thereafter.