Archives for July 14th, 2013
Tesla Motors, the vision of Elon Musk, took its first ‘step’ as a car company when they made Roadster number 1,000, back in 2010. With this achievement, Tesla proved that they made viable cars in a market sector where demand was high.
Proof of this is that they are launching the Model S sedan next week, an EV which will be a viable alternative to the conventionally powered BMW 5-Series (and company). Once the sedan is established as a good model, with positive feedback coming from customers, they will move on to the launch of the Model X, their all-electric crossover – a type of car which for which demand is very high at the moment, all around the world. Following the launch of the Model X, expected to take place some time in early 2014, Tesla will introduce a new platform (Gen III) which will underpin two mass market products: a sedan and a crossover.
According to Autoblog, both the sedan and the crossover will be smaller than the current Model S and X and will also be 40% cheaper than they are now. We are skeptical of such a decrease in price just two years from now, however, it is a welcome change for Tesla and it will considerably boost their appeal.
The Tesla Model S is officially here, and everybody seems to love it. So far, no problems have been reported, but then again it’s too soon to judge the car on its reliability. However, taking into account the simplicity of the drive system, the manufacturing techniques which Tesla have shown us in a their four official videos, we genuinely expect it to be durable.
Another thing that seems to impress people is the sheer power of the electric drivetrain which can push the Performance version to 100 km/h (62 mph) in 4.4 seconds, as well as its flat cornering capability. It also seems to be very quiet, as the conversations in the car can be heard, even while driving on the highway at 100 km/h (62 mph) or more, as there is little wind buffeting and tire noise – refinement being a very important aspect of any car which wants to be luxurious.
We will have to wait a few more months in order to assure ourselves that the car is durable and reliable, but aside from that, we cannot fault the Model S, and we think it is a great addition to the automotive world as a whole, because it embodies some great philosophies translated into a very competent overall package.
If you were to check eBay right now, you would find five or so reservations for the Tesla Model S, which are for sale. However, don`t buy or buy into them, as they should not legally be there, according to greencarreports.com. Apparently, all buyers who put their name down for a Model S can sell the car, but only after they`ve taken delivery – the reservation is not transferrable.
Currently there are 14,000 reservations, yet none can legally be sold. The only way to do it, though, is with special approval directly from Tesla, and the US green automaker has reported receiving no such requests. However, those who still want to sell their Model S, prior to even taking delivery of it, perhaps they should take a moment and think about their decision, and if it is not financially motivated, perhaps they should reconsider, give the car a try, and then if they are still bent on selling it, they can do so much easier.
The same rules will most likely apply in Europe, as well, despite the fact that Tesla is outsourcing distribution and manufacturing for the Old Continent to Tilburg, in the Netherlands, where they plan on starting production of the Model S, in March of next year.
Despite having already raised $226- (€175-) million in their first public shares offering, back in June of 2010, Tesla has been constrained by the Department of Energy (DOE) to increase the speed at which they will be repaying the $465-million credit line offered to them earlier this year.
Tesla officials say that their 6.93-million shares are each priced at $28.25, and they are now offering a 30-day option to its underwriter, in order to obtain an additional 1.04-million shares. This year, Tesla have had to take the optimism out of their production schedule for the Model S, due to production delays, and the company has yet to turn a profit.
They have announced a $160-million reduction in their revenues forecast, meaning that they expect to gain only $440-million by the end of the year. If they play their cards right, and so far they have, Tesla, which has already proven to be an excellently-managed company, will continue their ‘collaboration’with the DOE, as they have the necessary funds at their disposal to actually make things happen for the Slicon Valley-based automaker.