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Elon Musk with the Model S  (Source: s1.aecdn.com)
In a blog post, Musk set out to clarify that Tesla is not in a bad position despite the automaker's reduced 2012 revenue forecast

Tesla Motors had a bit of discouraging news last month regarding 2012 revenue reductions as a result of Model S delays, but CEO Elon Musk fired back with some better news: Tesla will become cash flow positive at the end of next month.

Last month, Tesla's regulatory filing indicated that the automaker had cut its 2012 revenue forecasts from $560 million-$600 million down to $$400 million-$440 million. It was noted that Model S production delays of about four to five weeks had caused the revenue reduction, as the Model S was expected to provide 90 percent of Tesla's revenue for the full-year 2012.

However, in a recent blog post, Musk set out to clarify that Tesla is not in a bad position. In fact, he said that his auto company will not only become cash flow positive at the end of next month, but Model S production has also been increased.

"Our production rate in the last week of September was roughly 100 vehicles, four times greater than our production in the first week of September as we overcame supply constraints," said Musk. "I am pleased to report that we completed production of 359 vehicles last quarter (delivering over 250 of those to customers) and have already made our 500th vehicle body.

"While we are indeed a few weeks later than we would like, this is not perhaps a terrible outcome for a product as advanced as the Model S, particularly given that Tesla is doing manufacturing of full vehicles for the first time with a new team and suppliers."

Musk added that SEC rules restricted the automaker from discussing this with the press sooner (because it doesn't want companies to promote stock), so he couldn't clarify the situation sooner when journalists began reporting the regulatory filing as a smudge on Tesla's record.

In addition, Tesla will be repaying its $465 million federal loan early ahead of the March 2013 due date.

Source: Inside Line



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By fleabag on 10/22/2012 4:46:17 PM , Rating: 2
quote:
Cost per mile for charging the Tesla is $3.80/mile, charging at home

quote:
Electricity for the BlueStar would be around $4,300, or $2150 if you charged at work. That's also around $34k after 5 years.

Where are you getting these numbers? Don't use the national average to calculate the cost of electricity because a lot of utilities are giving electric cars a reduced rate if you put the car on a separate meter. In california, I know of at least two utilities SCE and PGE that charge $.04-.06 per kwh. If the cars get 100mpge, then at $0.06kwh over 100K miles of driving, it would cost $2040 in electricity costs, $1360 if you're paying $0.04kwh.


"This week I got an iPhone. This weekend I got four chargers so I can keep it charged everywhere I go and a land line so I can actually make phone calls." -- Facebook CEO Mark Zuckerberg

















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