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 3:20:16 PM
Totally agree. For lower end models offer a generator with no connection to the drive wheels to recharge the battery. I'm sure Tesla can figure out how to make it very quiet as well.
"My sex life is pretty good" -- Steve Jobs' random musings during the 2010 D8 conference
Tesla Now Shipping 500+ Model S EVs Weekly
March 22, 2013, 12:03 PM
GM Hopes to Grow Volt Sales by 20% This Year
February 28, 2013, 9:41 AM
200 Mbps UK 5G Trial Looks to Scrap Air Traffic Radar for "Retro" System
February 14, 2013, 5:03 PM
Checkmate: Tesla's Elon Musk Provides Driving Logs from NYT's "Peculiar" Model S Trip
February 14, 2013, 12:41 PM
Google's Schmidt: Apple Should've Stuck with Us for Maps
September 25, 2012, 1:04 PM
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
Raytheon $1.9 Billion Purchase of Websense Raises Tough Questions
April 20, 2015, 1:57 PM
After Record-Setting Week, Samsung Predicts 70 Million GS6/GS6 Edge Sales
April 17, 2015, 8:39 PM
HBO to VPN HBO Now Users: Prove You Live in U.S. or We Will Terminate You
April 21, 2015, 12:17 PM
Testers Trolled by Promise of Uninstallable Windows 10 Preview Build 10061
April 16, 2015, 2:52 PM
Apple Plans In-Store Workshops to Teach Users How to Use Its Smartwatch
April 17, 2015, 1:02 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