Tesla Motors’ latest plans
Feb 12, 2009 Auto Tech
Tesla Roadster
In a recent newletter, Elon Musk, CEO of Tesla Motors has revealed plans for opening new Tesla stores in Chicago and London as well as in Manhattan, Miami, Seattle and Munich. He also confirmed plans for unveiling a roadgoing prototype of its Model S sedan on March 26.
While the latest newsletter has words on the recent $40 million financing, the expected $350million US govt. loans and the battery deal with Daimler, more interesting is the company’s decision to allow customers to pay $12,000, €10,000 or £9,000 up front and in return receive a replacement battery pack (which apparently costs 3 times that) after seven years, which is claimed as the battery life with normal use. Tesla is also offering an extended warranty: an additional 3 years and 36,000 miles or 60,000 kilometers, for $5,000, €4,000 or £3,800. Read the rest of this entry »
Tags: Elon Musk, Tesla, Tesla Motors
Tesla Model S coming in March
Jan 29, 2009 Auto Tech
Tesla held meetings with groups of disgruntled customers to explain the recent price hikes of its Roadster. Speaking at these, Elon Musk, CEO of Tesla, let it slip out that the company may show a drivable prototype of its sedan, codenamed Model S for the first time on March 5 in Los Angeles. Production may start from 2011. There was also news on a 440V charger that would facilitate 45-minute charges is in the works, possibly for 2010.
As Tesla navigates its financial and technological challenges, more and more competitors are coming up from other non-traditional manufacturers. Tesla would have to duel it out with Fisker, SSC and others in the coming years. Read the rest of this entry »
Tags: Fisker, Tesla Motors
Tesla CEO sends email and invites for a meeting
Jan 25, 2009 Auto Tech
Tesla Roadster
Trying to combat all the negative publicity after its recent price hike for its Roadster, Tesla Motors CEO Elon Musk has now sent an explanatory email to all the disgruntled buyers. It has also announced a set of town hall meetings, scheduled for the 26th and 27th at its Los Angeles and Menlo Park stores, respectively and hosted by Elon and other staff. The events can be attended in person or by phone.
The almost apologetic email explains the price increases by linking the need for Tesla Motors to prove that they can make a profit, to securing loans to advance the making of the Tesla S sedan. It also informs how the cost estimates have increased spectacularly amindst delays and engineering challenges.
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Tags: EV, Solar cells, Tesla Motors
BBC Top Gear tests the Tesla Roadster
Dec 18, 2008 Auto Tech
The enormously popular TV show, Top Gear tested the Tesla Roadster recently.The Tesla Roadster, as most of you will know, is an all electric sportscar, built in California by a company founded by Elon Musk, who made his fortune through PayPal. It is based on the Lotus Elise chassis and uses an array of laptop like cells to provide juice.
The Top Gear crew had a few reservations, but were impressed by the pace and the Roadster actually matched the timings of a Porsche GT3 on the track. Video is here.
Tesla has clarified that the cars never actually ran out of juice, the brake failure was actually a blown fuse which was easily replaced and they gloated about the fact that Clarkson, the popular but hardly diplomatic host was impressed by the acceleration to call himself a “Volt head”.
Tesla has been in controversy for a range of problems: from gearbox problems, to overheating to financial troubles which entailed layoffs and slowing of future product development plans. Read more here.
Tags: BBC, Road Test, Tesla Motors, Top Gear
Irish govt. entity invests in Tesla Motors (US)
Dec 1, 2008 Auto Tech
Ireland’s Electricity Supply Board, has invested $20 million in electric car startup Tesla Motors, according to the Irish newspaper, Independent. The investment was made through a clean technology fund managed by VantagePoint Venture Partners. This comes just after an announcement that the Irish government has set out to have electric vehicles make up 10 percent of all cars on its roads by 2020.
The ESB has backed the car through an investment of €15.5m in a €310m clean technology venture capital fund run by US firm Vantage Point Venture Partners, who manage about $4bn of assets.
Tesla Motors is based in California and has been cofounded by Elon Musk, who made his fortune through Paypal. It’s sole model currently is the all electric, $109000 Roadster, that has been designed with help from sportcar makers, Lotus and has a 0-100 kmph time faster than even the Porsche 911. The car maker has been in new recently with problems in raising fresh cash and overshooting timelines in development of its next model, a sedan.
Tags: Ireland, Tesla Motors
Fisker selects GM for sourcing gasoline engines
Nov 22, 2008 Auto Tech
Fisker Karma
Fisker Automotive today said that it plans to use a four-cylinder General Motors engine in its Fisker Karma, a four-door plug-in hybrid sports sedan, unveiled in January 2008 and expected to cost about $80000. The gasoline engine will be used to extend the range of the batteries’ 50 mile range. Fisker plans to deliver about 100 cars by the end of 2009.
Fisker was started by ex-Aston Martin designer Henrik Fisker and backed by venture capital firm Kleiner Perkins, had recently won a binding arbitration proceeding against Tesla Motors. It remains to be sen if GM’s current woes (bad karma!) will delay Fisker’s plans, as it may been planning to source than just engines from the beleagured GM.
Tags: Fisker Karma, hybrid, plugin, Tesla Motors
Tesla wants $400 million loan from US Govt.
Nov 21, 2008 Auto Tech
Tesla Motors has applied for about $400 million of a $25 billion government loan package designed to help automakers produce more efficient vehicles and meet new fuel economy standards.Tesla currently makes an electric sports car called Roadster, which has sold about 60 and an order book of about 1000.
Diarmuid O’Connell, Tesla’s VP of corporate development, revealed the amount in an interview with peHUB Wednesday, less than three weeks after CEO Elon Musk declared a $40 million round of convertible-debt financing “significantly more than we need.” According to O’Connell, Tesla would use the direct loans for two projects: a new battery manufacturing operation, and a delayed mass-market sedan, now called the Model S. Read the rest of this entry »
Tags: AFS Trinity Power, Government bailoiut, Startups, Tesla Motors
Fisker announces new Eng. and development center
Nov 11, 2008 Auto Tech
Fisker Karma
Fisker, a startup car company, aiming to bring to market its sporty Karma hybrid, announced plans to open a new engineering and development center in Pontiac, Michigan. It will potentially employ 200 people — a drop in the ocean number compared to the number of people potentially unemployed, if any of the Detroit’s big three go bankrupt. Still, gives everyone hope that new car companies will someday take the place of the traditional behemoths as carmakers of choice as well as employers–confirming the theory of creative destruction in capitalism.
With claims of a top speed of 125mph and 0-60 acceleration in less than 6 seconds, the Fisker Karma,a plug-in hybrid sports car, is expected to be avaliable from 4th quarter of 2009 in North America. The car’sproduction is projected to reach 15,000 vehicles by 2011. just in time for the release of the sedan from Tesla, a company with which Fisker was involed in legal wranglings till recently. Read the rest of this entry »
Tags: Fisker Karma, Tesla Motors
California loves its green auto owners
Nov 8, 2008 Auto Tech, Green Technologies, Stars, Policy and Finance
Tesla Motors
If you are one of the few Tesla Roadster owners around, Martin Eberhard, co-founder of Tesla Motors has news for you. In his blog, he mentions how he got his $5000 rebate and how you can get it too!
If you bought an alternative fuel car in California recently, California’s Air Resources Board has some money for you, as part of Fueling Alternatives, California’s Alternative Fuel Rebate Program. This rebate program applies to a specific list of electric and natural gas vehicles - NGV Fords converted by BAF, the Honda NGV, The Tesla Roadster, some GEM, Miles, Zenn & Zap cars. As a highway-capable purely electric car, the Tesla qualifies for the highest rebate.
Strange that Tesla does not mention this rebate to its customers. It is probably worth mentioning here that Tesla itself may get their own form of CARB rebate in the form of ZEV Credits that they could conceivably sell to other auto companies doing business in California.
Pleasant surprise after California rejected two environmental measures that could cut emissions in a vote, coinciding with the 2008 presidential elections.
Tags: California, Rebates, Tesla Motors
Tesla loses arbitration and makes more workforce cuts
Nov 4, 2008 Auto Tech, Green Technologies
Tesla Roadster
The stream of bad news does not seem to stop from Tesla! Now it is laying off workers in UK and has lost a binding arbitration proceeding against Fisker Automotive.
Today Fisker Automotive issued a press release saying that an independent arbitration between the two competing Silicon Valley-backed electric car makers has been awarded initially against Tesla. Tesla had earlier this year, filed a suit in California alleging that Fisker stole design ideas and trade secrets and in June, the court granted a request to send the case to arbitration.
Fisker is coming up with its own electric car called the Fisker Karma (picture after the “Read More” link) and now, it hopefully has put the “bad karma” of Tesla behind it. Meanwhile, follow the recent saga on Tesla Motors here and read more below.
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Tags: electric cars, Tesla, Tesla Motors