Tesla Losses Soar to $154.3 million in 2010, Despite Gains in Revenue

Tesla Motors has just released a preliminary, unaudited financial report concerning the year than ended on Dec. 31, 2010. The company reported losses of US$51.4 million in Q4 2010 and US$154.3 million for 2010, which was almost triple the US$55.74 million loss for the year ending Dec. 31, 2009.

The EV automaker's revenue, however, rose approximately 5 percent in 2010 to $116.7 million. Revenues for the fourth quarter of 2010 were US$36.3 million, a 16% increase from the US$31.2 million reported in the prior quarter. Tesla added that gross margin improved to 26% for the full year 2010, up from 9% for 2009.

The company 's future plans include the launch of the Model S, which is scheduled to go on sale in the middle of next year. Scroll down to read Tesla CEO Elon Musk's statement.

“We are very pleased to report continued revenue growth, improving margins and a steady progression in our Roadster and powertrain activities,” said Elon Musk, CEO of Tesla Motors. “Our powertrain team delivered solid results, with an increase in orders and record deliveries of battery packs and chargers for the Daimler Smart fortwo electric drive, the completion of our development program for the Daimler A-Class, and the commencement of the phase 1 development program for the Toyota RAV4 EV.”

“The highlight of the quarter was our on-time completion of the first drivable Model S alpha,” continued Musk. “The quality and level of refinement of the alpha demonstrates the superb job of our design, vehicle engineering and powertrain teams. They have embraced the opportunity to build an EV from the ground up and have produced a vehicle which shows great potential to deliver superior aerodynamics, stability and handling, crash safety, performance and range. We believe the Model S is well on its way toward becoming the vehicle of choice for 2012.”

_______________________________GALLERY_______________________________

Tesla Model S Road Testing Underway [with Video]

It has been a long journey, but it looks like the Tesla Model S all-electric sport sedan is one step closer to series production as the California-based automaker announced it is moving on to the final road tests. The first phase called Alpha, which began in 2010, includes both computer simulations and test-drives of prototype vehicles. There will be a Beta phase as well.

“The first Alpha is amazingly agile for a car of its size. It has great handling balance and poised ride with communicative steering. Just goes to show what combining a low center of gravity with a very stiff body structure can achieve”, said test drive Graham Sutherland.

According to Tesla, Alpha cars will be tested in the coming months in all sorts of climatic conditions, which should help engineers improve the EV’s driving dynamics.

Tesla’s second model after the Roadster offers seating for five adults and two children. The Model-S' drivetrain consists of an electric motor coupled to a single-speed transmission and a floor-mounted lithium-ion battery pack. Customers will be able to specify their cars with one of three available battery packs offering a driving range of up to 160, 230 or 300 miles (258, 370 or 483 kilometers).

Roughly the same size as a BMW 5-Series, the Model S sprints to 60 mph (96 km/h) in 5.6 seconds and can reach a top speed of 130 mph (209 km/h). Production is set to begin in 2012 and Tesla is currently taking orders, with the base price set at US$49,000, including a US$7,500 Federal tax credit.

By Csaba Daradics

_______________________________VIDEO_______________________________

_______________________________________________________________________

_______________________________GALLERY_______________________________

New Car Collections | About TESLA Model S

The S model, which carries the battery charger on board can be charged from any 120V, 240V or 480V outlet again, the latter in only 45 minutes. By charging their car while they stop for a meal, the driver can go from LA to New York in about the same time as a gasoline car. In addition, the soil attached battery is designed to be changed in less time than it is to fill a gas tank, so that the possibility of battery pack swap stations instead.

The floor-mounted drive train also results in unparalleled cargo space and versatility, as the volume under the front hood, a second trunk. The combination with a four-bar hatchback trunk and flat folding rear seats, the Model S, a 50-inch TV, mountain bike * and * recording a surfboard. This packaging efficiency gives the S model more luggage space than any other sedan on the market and more than most SUVs.

“Non-S model of performance, efficiency or utility model compromise – it is really the only car you need,” said Tesla CEO, Chairman and Product Architect Elon Musk. “Tesla is to relentlessly reduce the cost of electric vehicle technology, and this is just the first of many mainstream cars we develop.”

Tesla Model S expects to begin production in late 2011. The company believes it is close to receive $ 350,000,000 in bonds of the Federal Republic of Germany for the Model S assembly plant built in California by the Department of Energy Advanced Vehicle Manufacturing Technology Program.

Tesla is currently the only manufacturer already sells highway-capable EVs in North America or Europe. With 0-60 mph in 3.9 seconds, the Roadster offers almost all sports cars in its class is still six times as energy efficient as gas-guzzlers and delivers 244 miles per charge. Tesla has delivered nearly 300 Roadster, and almost 1,000 more clients on the waiting list.

Tesla not need regular oil changes, and they have moved much less (and breakable) parts, as vehicles with internal combustion engine. You qualify for the federal government and tax credits, rebates, sales tax exemptions, free parking, subway passes and other perks. S model costs approximately $ 5 to drive 230 miles – a bargain, even if gasoline $ 1 a gallon.

The expected base price of the Model S is $ 49,900 for a federal tax credit of $ 7,500. The Company has not released pricing option. Three battery selection offers a range of 160, 230 or 300 miles per charge.

“Model S costs half as much as a roadster, and it is a much better value than cheaper cars,” said Musk. “The ownership costs for model S, when to lease it and then make the much lower cost of electricity vs. gasoline at an estimated cost of $ 4 per gallon have been, is similar to a gasoline car with a sticker price of about $ 35,000 . I’m sure this car will be the preferred choice of savvy consumers. ”

The standard model S does 0-60 mph in under six seconds and an electronically limited top speed of 130 km / h, to achieve much with sports versions expected acceleration 0-60 mph under 5 seconds. A single-speed transmission delivers effortless acceleration and handling. A 17-inch touch screen allows in-car 3G connectivity to passengers, listening to Pandora Radio, or contact Google Maps, or check their state of charge from their iPhone or laptop.

Tesla takes reservations online and showrooms in California. Tesla will open a store in Chicago this spring and is planning offices in London, New York, Miami, Seattle, Washington, DC and Munich later this year.