Tesla to Show Off EV Battery Swap Tech This Week
June 18, 2013 10:34 AM
comment(s) - last by
Tesla will demo its battery swap technology for the Model S
Tesla will be demonstrating its
swap technology this week in hopes of successfully launching an alternative to electric vehicle (EV) charging.
Tesla CEO Elon Musk announced via Twitter that the automaker will show off swappable batteries at its design studio in Hawthorne, California this Thursday evening at 8 p.m. PST.
The idea behind battery swapping is to easily open the car chassis to pull the battry out and replace it with a fully-charged one. This saves the driver from having to wait for their battery to charge before traveling -- especially on a road trip that's longer than the available electric range of their battery.
This technology hasn't really taken off yet (although it was attempted before by Better Place and automaker Renault). The main issue is infrastructure, mainly because it's so expensive to deploy. But with Tesla's ever-increasing number of Super Charger stations, adding a battery swap service to these areas could be an ideal solution.
Tesla's Model S is capable of battery swap, but it hasn't really been implemented yet. Tesla is looking to change that this Thursday.
Tesla has proved to be the superhero of the American electric car startup world. It was approved to receive a $465 million loan from the U.S. Department of Energy (DOE) in June 2009, which was part of the Advanced Technology Vehicles Manufacturing program. The loan was to be repaid by 2022, but in March of this year, Tesla received permission to pay the loan back five years early by mid-2017.
However, Tesla managed to repay the whole sum last month --
nine years earlier
than expected from the original 2022 due date. This was mainly due to its decision to issue more stock the week before. Tesla said it wanted to sell about $830 million in shares, and use $450 million in convertible senior notes (which are due in 2018) along with sales of 2.7 million shares (valued at about $229 million at the time) to pay back its federal loan.
This is an especially crucial detail in Tesla's history, considering other plug-in hybrid electric automaker Fisker Automotive (which also received a DOE loan) has
Before that, Tesla started shipping 500 Model S sedans per week starting in March of this year, exceeding the sales outlook of 4,500 posted in the February shareholder letter. In fact, Tesla managed to sell 4,900 Model S sedans in the first quarter. The automaker plans to deliver 21,000 total for the year, which slightly exceeds previous forecasts of about 20,000.
For Q1 2013, Tesla reported a net income of $11.2 million (a huge increase from an $89.9 million loss in the year-ago quarter). Excluding certain items, Tesla's profit came in at 12 cents a share, which was a boost from a loss of 76 cents a share in Q1 2012. Analysts expected a profit of about 4 cents a share. Revenue also saw a huge year-over-year boost, totaling $562 million (up from $30.2 million in the year-ago quarter).
For those who can't make it to Tesla's California studio this week, don't fret -- Tesla will post a video of the demo on Twitter that night.
This article is over a month old, voting and posting comments is disabled
The back breaker
6/20/2013 8:56:38 AM
This is how the math always kills these pie in the sky stupid fossil fuel wannabe schemes. You cant expend X thousands of barrels of oil building out an infrastructure that results in a savings of less than X thousands of barrels of oil. With EROI taken into account, X(barrels saved) would have to be many times greater than X(barrels consumed).
"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
The Fall of Fisker Automotive: A $35,000 Loss on Each Karma, Lavish Spending and Misinformation
June 17, 2013, 5:03 PM
Tesla Repays $465 Million DOE Loan 9 Years Early
May 22, 2013, 10:20 PM
Tesla Reveals Generous Model S "Hassle Free" Battery Replacement, Service Programs
April 29, 2013, 12:26 PM
Report: 2015 Ford Focus Electric MSRP Slashed by $6,000, Will Retail for $29,995
October 18, 2014, 6:23 PM
Chevrolet Sonic EV to Have 200-mile Range, Debut in 2017
October 10, 2014, 12:01 PM
Auto Start-Stop Systems Will be Installed on Nearly 60% of New Vehicles by 2020
October 8, 2014, 4:19 PM
Volvo XC90 to Receive Triple-turbocharged, 450hp 2.0-liter Four-cylinder Engine
October 7, 2014, 2:29 PM
Nissan Still Trying to Make a Profit on Leaf EV
October 6, 2014, 5:46 PM
Quick Note: Photo of Tesla’s Model S P85D Shows Up Online
October 3, 2014, 9:48 AM
Most Popular Articles
Google Launches "Same-day Delivery" Subscription Service for $95/year
October 14, 2014, 10:37 AM
Google Announces Android 5.0 “Lollipop”, Nexus 9 Tablet, and Nexus 6 “Phablet”
October 15, 2014, 12:41 PM
Ireland to Close Loophole Apple and Google Used to Evade EU Taxes
October 13, 2014, 10:45 PM
Update: Motorola Droid Turbo Coming Oct 28, 48-hour Battery Life Confirmed
October 19, 2014, 9:19 PM
Samsung Develops 802.11 AD Wi-Fi, But Will it be Sunk by Poor Penetration?
October 14, 2014, 4:30 PM
Latest Blog Posts
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
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information