Sep 032011

Maverick electric automobile manufacturer Tesla is really making some waves in the world of all-electric cars. Not only has the progressive American car company just shown off its Roadster and Model S together, but it has also posted some impressive financial figures and announced an electric sport-utility vehicle.

Telsa Model S - All electric Car

Telsa Model S - All electric Car

First up is the appearance of the long-awaited Model S electric saloon. The blogosphere was all a-Twitter recently when Tesla released video of its two electric car models silently ripping up the tarmac together.

The Roadster has been available since 2008, with the first couple of years of production going to customers in the United States. Since 2010, the Roadster has been on sale in the UK, Japan, Singapore, Hong Kong and Australia.

Telsa Roadster All Electric Car

Telsa Roadster All Electric Car

The long-awaited Model S electric luxury saloon looks set to finally roll out to customers, more than 2,000 of whom have made reservations, after Tesla distributed a video of the green sporting luxury saloon being put through the paces against a Roadster.

The Model S is designed to compete with the established champions of the sporting saloon sector, the BMW 5-series, the Mercedes-Benz E-class and the Audi A6. Unlike those cars, however, the Model S can reputedly carry two kids in rear-facing child seats, in addition to five adult passengers.

On Friday, Tesla announced that it would be distributing a newsletter to all Model S reservation holders in about 10 days. Prospective buyers of the Model S are to receive special invitations to see their cars at the Tesla production facility in Fremont, California.

The company, which is based nearby in Palo Alto, says it will be giving reservation holders rides in beta test versions of the Model S. Some areas of the factory, a former NUMMI plant, will also be open for tours.

When it goes on sale, pricing for the all-electric Model S is expected to start at $57,400, (£35K approx). The saloon is supposed to be capable of travelling 160 miles on a complete charge.

Earlier this month, the Tesla news caravan continued to roll, with the company announcing its latest financial figures. Though the company’s losses widened in the second quarter, to $58.9 million (£36 million), this was a result of increased spending on research, as well as the hiring of engineers needed to develop future vehicles.

The net loss, which works at 60 cents per share, rose considerably from the $38.5 million(£24 million) declared a year earlier. As there were fewer shares outstanding last year, the net loss then worked out to $5.04 (£3.10 approx) per share.

Though this sounds like rather sobering news, Tesla actually did incredibly well. The company was overjoyed to announced record revenues of $58 million (£36 million) in the quarter.

Finally, Tesla has announced plans to build an all-electric sport utility vehicle. The company said it would reveal the Model X this December.

Tesla said it was still putting together an alpha model of the new vehicle. The news was announced during the quarterly earnings call on 3 August in which the latest revenue and net loss figures were released.

The Model X will be based on the same power train and associated technology the company already uses for its existing models. This will cut the development period in half. Tesla is forecasting production of 15,000 Model Xs by 2013.

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