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.
Tragedy struck Tesla Motors after a twin-engine Cessna piloted by a Tesla manager crashed into an East Palo Alto neighborhood today resulting in the death of the pilot and two other Tesla employees that were on-board with him.
From what we’ve gathered, the plane, which was owned by Doug Bourn, a senior electrical engineer from Tesla, took off from Palo Alto Airport and was headed for Hawthorne Municipal Airport in Los Angeles County. According to various reports, the plane crashed minutes after it took off at an East Palo Alto neighbourhood, crashing first into an electric transmission line before exploding upon impact.
Tesla CEO Elon Musk issued a statement immediately following the horrific tragedy, calling it the worst day in Tesla’s history.
“Three Tesla employees were on board a plane that crashed in East Palo Alto early this morning,” Musk said in a statement. “We are withholding their identities as we work with the relevant authorities to notify the families. Our thoughts and prayers are with them. Tesla is a small, tightly-knit company, and this is a tragic day for us.”
Despite our running jokes about how Tesla tries to sell eco-friendly electric cars, yet travel on some pretty high-end, gas-guzzling planes, this unimaginable tragedy is something that we take pretty seriously. Our hearts and our prayers go out to all the affected families.
There aren’t that many Tesla Roadsters out there – so far, there are around 940 units all over the world - so if one of them ends up in an accident, then you can bet that it’s going to make some news.
Ever the benevolent purveyors of exotic car crashes; our buddies over at Wrecked Exotics recently unearthed two Tesla Roadster crashes that happened just recently. Though the accidents weren’t related, the two accidents brings the total of Tesla Roadster car crashes, at least as far as Wrecked Exotics is concerned, to six, with one of them being a test vehicle that met an untimely demise even before production for the car began.
As for the two newest members of the Tesla Roadster car crash club, we’re relieved to say that both cars didn’t suffer the same metal-crunching fate that other sports cars seem to routinely find themselves in.
The black 2008 Roadster accident occurred in Orlando after the driver lost control of the car after which, it clipped a concrete divider resulting in the front left side of the car to need some facial reconstructive surgery.
As for the orange 2008 Roadster that figured into an accident of its own, it was merely a minor fender-bender mishap involving the over-eager owner of the Roadster. Despite the relatively subdued crash, the orange Roadster got introduced into the world of car crashes pretty early since the car – with a total mileage of just under 3,000 miles – is still what many consider as ‘just out of the box’.
It’s never a good thing for any of us to be reporting on car crashes of any sort. But these two Tesla Roadster crashes somehow alleviates our burden because the crashes, though expensive to repair, as we can imagine, didn’t come at the cost of a life.
The all electric American automaker Tesla has just unveiled a right-hand-drive version of its successful open air zero emissions EV Roadster in London and is priced at £86,950. "The right-hand-drive model is our response to growing demand from high-performance car buyers in the UK who are also interested in their impact on the environment," said Cristiano Carlutti, Tesla’s Vice President for European Sales and Operations. "Tesla is dramatically expanding its retail footprint in Europe, we look forward to building our community of owners and fans throughout the continent."
The 2010 Roadster for those who drive on the opposite side of the road includes a host of unique noise reduction materials, an upgraded sound system as well as a few other enhancements that make it ideal for daily commuting or weekend drives. After all, who wouldn’t want to own a vehicle that is as powerful as a Porsche and twice as efficient as a Prius, especially with one particular owner setting a 313 mile distance record from only a single charge with his own personal Roadster, offering up the best of both worlds for Tesla owners.
According to a recent filing with the Securities and Exchange Commission the high end electric car builder Tesla Motors is planning to raise as much as $100 Million in capital through the aide of public investors. While the entire automotive manufacturing industry is facing difficult times, Tesla hopes that they will be able to supplement the $465 Million loan from the federal government and claim a lasting stake in the new car market by increase the public’s awareness about the forward thinking green car builder’s intent to mass produce electric vehicles for a wide range of consumers.
The California based car builder Tesla is currently offering a lineup of only two cars, with the high performance $100,000+ open air Roadster leading the charge and the $60,000 Model S sedan following closely behind. By opening themselves up to public investors with an IPO, the electric automaker is adding another element of uncertainty to their plans in an already unstable new car market; however Tesla co founder and CEO Elon Musk is no stranger to taking chances.
Tesla’s attendance at the Detroit Auto Show has been finalized and the California-based electric car maker will go to Detroit the old fashioned way: road trip. Beginning on December 17, 16 Tesla employees will start their road trip from Los Angeles and will go on a city-by-city tour en route to Detroit and Detroit Auto Show in the first week of January.
The decision to travel to Detroit by land was prompted by the company’s desire to espouse the message that Tesla is more than just a rich environmentalist’s pet car. “We are out to porve the Roadster is tough and durable, and that range for anxiety is for the week,” Tesla’s announcement
As we’ve mentioned, their trip from LA to Detroit will be marked by a number of pit stops along the way, mainly because the cars need to be recharged every so often but also because it affords the brand to expand their reach to other parts of the country. A number of cities have already been listed on the company website as to when the Tesla caravan will stop by their areas so if any of you are looking for a first-hand look at the electric sports car, check out their site to see if they’ll be dropping your city in the coming weeks.