Tesla Motors Now Profitable, Drops 40 kWh Model S Battery Option
April 1, 2013 10:02 AM
comment(s) - last by
Tesla said only 5 percent of customers chose the small battery option of 40 kWh, which is not enough to enter it into production
Tesla Motors may not have had the easiest time with its Model S sedan, the vehicle has
exceeded sales targets
and the company is now profitable.
Tesla announced today that Model S sales reached 4,750, exceeding the sales outlook of 4,500 posted in the February shareholder letter.
This has led to a change in Tesla's first quarter guidance, where the company has announced full profitability in both GAAP and non-GAAP.
"I am incredibly proud of the Tesla team for their outstanding work. There have been many car startups over the past several decades, but profitability is what makes a company real. Tesla is here to stay and keep fighting for the electric car revolution," said Elon Musk, Tesla Motors co-founder and CEO. "I would also like to thank our customers for their passionate support of the company and the car. Without them, we would not be here."
Tesla Model S
Tesla made another Model S announcement today regarding the battery pack. According to the automaker, only 5 percent of customers chose the small battery option of 40 kWh, which is not enough to enter it into production.
Hence, these customers will receive the 60 kWh version that has been “software limited” to 40 kWh. While capacity will be limited to 40 kWh, customers will still be able to take advantage of the quicker acceleration and higher top speed afforded by the larger battery pack.
In addition, Tesla said all 60 kWh vehicles have been built with Supercharger hardware included, meaning that customers can drive longer distances by stopping at a
Supercharger recharging station
Tesla encountered some rough patches earlier this year, such as when a journalist from
The New York Times
took a test drive this winter and reported
a horrific venture
. More specifically, he said that the Model S didn't have the range Tesla said it did, and ended up on a flatbed truck at the end of the trip. Musk and the NYT journalist (John Broder)
ended up feuding
over the matter, with most people siding with Musk.
Tesla also recently announced that there would be a delay to production of
the Model X
. Tesla had hoped to begin production of the vehicle this year, but those plans have been put off until late 2014 (meaning deliveries will likely be pushed to 2015).
However, Tesla also has much to celebrate. Not only is the Model S taking off and the company is now profitable, but it recently announced that it will be able to
pay off its $465 million government loan
within five years.
Just last month, Tesla said it was shipping
over 500 Model S EVs
This article is over a month old, voting and posting comments is disabled
4/1/2013 1:41:31 PM
According to the article they'll already get the faster performance of the 60kWh model.
"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer
Tesla Now Shipping 500+ Model S EVs Weekly
March 22, 2013, 12:03 PM
Tesla's Elon Musk Vows to Pay Off $465M Government Loan Within Five Years
February 28, 2013, 8:53 AM
Checkmate: Tesla's Elon Musk Provides Driving Logs from NYT's "Peculiar" Model S Trip
February 14, 2013, 12:41 PM
NYT Reports Poor Tesla Model S Range in East Coast Trip; Elon Musk Fights Back with Driving Log
February 12, 2013, 1:00 PM
Tesla Motors Plans to Deploy "Supercharger" Charging Network for Model S
September 25, 2012, 8:14 AM
Study Predicts Self-Driving Vehicles Could Rake in Billions
March 6, 2015, 8:34 AM
Dual-Motor Tesla Model S P85D's "Insane Mode" Shocks Passengers
January 28, 2015, 11:18 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
BMW Testing Tech to Allow Users to Auto-Park, Summon Cars Via Smartwatch
December 16, 2014, 9:30 AM
Lamborghini Offers Up $6,000 Leather-Bound Android Smartphone
December 12, 2014, 3:12 PM
Quick Note: GM Teases Next Generation Chevrolet Volt
November 20, 2014, 3:26 PM
Most Popular Articles
America's Largest Cable Company, Comcast, Sees Internet Subscriptions Pass TV
May 4, 2015, 2:46 PM
Chromebooks Expected to See Sales Grow 26 Percent to 7.3 Million Units This Year
May 22, 2015, 1:26 PM
The Pirate Bay Loses Its Iconic Swedish Dot SE Domains
May 20, 2015, 6:31 PM
Rockstar Games' Parent Sues BBC Over Unauthorized "Grand Theft Auto" Drama
May 21, 2015, 6:05 PM
Buzzfeed, NatGeo, NBC, and NYT Pay to Push Stories to Your Facebook Feed
May 13, 2015, 4:31 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information