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That decked-out first-run Tesla Model X will cost you $140K
Tesla revealed its pricing scheme for its upcoming Model X electric SUV on Tuesday when it sent out online configurators to prospective buyers. The limited edition first-run, dubbed the Signature Series, will reportedly retail for $132,000. For the base model. Granted, the Signatures will come with most every feature Tesla offers, like Autopilot. But if you want every option -- including Ludicrous mode as well as both the towing and cold weather packages -- get ready to shell out $143,750. [Image Credit: Getty Images]
Tesla's Powerwall is already sold out through middle of 2016
On Tesla's quarterly earnings call, CEO Elon Musk announced "crazy off the hook" demand for its just-announced Powerwall battery product. He said over 38,000 reservations have been received, which should take up the expected production through mid-2016, and demand is high enough to account for all of the Gigafactory's production if they devoted it just to stationary batteries. That includes some 2,500 companies that are interested in the commercial-ready Powerpack (with orders averaging around 10 units each), and Musk said he estimates that commercial interest in Tesla Energy will account for 5-10 more megawatt hours than residential. To clear up one question about the Powerwall, he mentioned that while it doesn't have a DC-to-AC inverter included, it does have a DC-to-DC unit built in. Update: It wasn't mentioned on the call, but Tesla also confirmed its first acquisition today, snatching up Michigan-based part manufacturer Riviera Tool.
Tesla built 35,000 cars last year, preps for Model X launch
While Elon Musk keeps his eye on a SpaceX rocket launch this evening, his car company just released its financial data for the last year. Tesla met its goal of building 35,000 cars in 2014, but says some shipments were held back as a result of launching the shockingly-fast AWD P85D Model S. Beyond the numbers, the company is raising its goal for next year to 55,000 vehicles, including the Model X SUV it says is still on track to arrive in Q3. There are about 30 Model X vehicles in testing now, while Release Candidates are slated for March. The only bad news? Its $1.1 billion in revenue for the quarter was lower than analysts expected, and operating expenses doubled from the same period last year. The company's earnings call is scheduled to take place at 7:30PM ET, and if there's any news from that we will let you know. Update: On the call, Musk mentioned that Tesla's battery for homes and businesses will launch in the next month or two.
Tesla's long-delayed Model X SUV is testing in California
It may look like a Prius that's been vomited on by Mad Max, but the vehicle you see in the clip below is probably Tesla's long-delayed Model X SUV. You see, when companies begin stress-testing vehicles, they dress them down with a dodgy paint job and go riding out a deserted airfield, like the one at the old naval base in Alameda. No amount of weird paint, however, could disguise the latest all-electric vehicle to roll off the production line, especially one as long-awaited as the X.
Elon Musk: Tesla will make 'millions' of cars per year by 2025
While the Auto Show's press preview events are winding down, it's time for the Automotive News World Congress to take over, and tonight it featured a sit-down with Elon Musk. During the interview, Musk answered questions about everything from, "Where is the Model X?" (coming this summer) to whether or not he's a good boss (The Wall Street Journal says no; Musk says "not all the time.") He said that he expects Tesla's production to reach millions of cars per year by 2025, which is part of the reason he's focusing on the Gigafactory -- more battery production will be needed first. ("If it doesn't drive down the cost of batteries, I should be fired," says Musk.) First, however, he expects the company will be profitable by about 2020. You can check out some of the quotes collected in tweets after the break, or read impressions posted by the Detroit Free Press, Autoblog or The Verge.
Tesla delays Model X again, aims for Q3 2015
Tucked into Tesla Motor's Q3 2014 earnings letter to its shareholders, the automaker announced that its Model X SUV had been delayed once again. First slated to hit the road in 2013, and then pushed to 2014 before another bump to early 2015, the company's electric SUV won't roll off of the assembly line until the second half of next year. Thanks to the new Dual Motor drive on the Model S, the powertrain for the X is said to be nearly done; however, more testing is needed elsewhere. In the letter, CEO Elon Musk admitted that criticism in regards to the varying timelines is valid, but that Tesla won't trot out the vehicle until it's ready to properly "delight customers."
Tesla preps for Model X production with assembly line revamp
In order to boost output of the Model S and to prepare for production of the Model X SUV, Tesla has paused work at its only plant for two weeks. Bloomberg reports that $100 million in upgrades are on tap for the factory that will allow both vehicles to be constructed on the same assembly line. The changes will also increase production of the Model S sedan by 25 percent. As you may recall, the company's electric SUV has been delayed more than once, so by now there's a few folks anticipating the expected 2015 arrival. [Photo credit: Bill Pugliano/Getty Images]
Tesla's Model X SUV enters production in early 2015, clever doors intact
Worried that Tesla's all-electric SUV, the Model X, might face yet another delay? Don't be. Tesla is telling pre-order customers that their vehicles will roll off the line in early 2015, complete with the space-saving "falcon wing" doors from the 2012 concept. The options list should be relatively short, too, as both all-wheel drive and fold-flat seats will come standard. You will have to pony up for a third row of seats, however. Elon Musk and crew haven't shown off the final design, although late-stage prototypes are due in the fall -- if you're still on the fence about Tesla's upscale people carrier, you'll have at least one more chance to see it before sales begin.
Battery production, design modifications delay Tesla's Model X SUV another year
During an interview with Bloomberg prior to Tesla's earnings call yesterday, CEO Elon Musk discussed a few interesting tidbits. The most significant revelation is that the Model X SUV, which was first detailed in 2012 and originally set to begin production late last year, is now delayed until 2015. Musk cited several reasons for the delay, such as a need to focus on Model S distribution efforts, including expanding sales to China, along with his own personal dissatisfaction with current prototypes. Tesla also needs to boost battery production before it can roll out SUVs at a speedy enough pace to meet demand, which Musk expects will exceed Model S adoption. Commenting on design, Musk said "it's damn hard to make an SUV... that is beautiful and yet incredibly functional at the same time. It's a harder design problem than the Model S." Meanwhile, when pressed about a recent visit with Apple's acquisitions chief, Musk did acknowledge that he has had discussions with Apple, but he said that he doesn't plan to sell his company at this time. For now, he seems focused on completing the Model X design process and moving ahead with the firm's giga battery factory, which would help Tesla ramp up battery production within the next few years.
Tesla opens London showroom, outlines broader UK plans
Tesla now has an official retail footprint in the UK. The EV maker has just opened its first British showroom in London's Westfield shopping center, giving locals a chance to buy the Model S (including next year's £55,000 right-hand drive variant) in person. The store is just the beginning of Tesla's inroads into the country, though. As part of an opening gala Q&A, Elon Musk said that his company was already mapping the UK for Supercharger stations. He also expects that the Model X SUV will reach the UK in late 2015 or 2016, and hopes that Tesla's long-planned lower-cost EV will come in roughly three years for about £30,000. That's an ambitious plan when Tesla barely has a presence outside of North America, but Musk has a knack for completing large-scale projects.
The Engadget Interview: Tesla's Elon Musk promises more Superchargers, better service, cheaper EVs that don't suck
"It doesn't help to have a car that's cheap, but that sucks." This isn't the sort of direct language that you typically hear from a CEO these days, but this is exactly the kind of material you can expect from Tesla co-founder and CEO Elon Musk. Over the course of our conversation, Musk (who earlier co-founded PayPal and who also heads up SpaceX) went on the record calling journalists who didn't understand the benefits of leases "dumbasses" and pledged that use of the company's Supercharger stations will always, forever and ever, be free. Candid responses such as these are not new for Mr. Musk, having certainly caused some turmoil in the past, and they do make for quite an interesting interview. Join us as we explore why the cheapest Model S was scrapped and we ask just when we can expect the fabled, and truly affordable, third-generation Tesla.
Tesla Model X delayed till late 2014 as company focuses on S series
Tesla subtly announced in its recent annual report that its Model X won't be arriving any time this year. Our sister site, AutoBlog Green, confirmed that the SUV model has been pushed back to a late 2014 release, citing a focus on its S model for now. The company reckons it won't affect profits though, adding that it sees "increased sales volume potential" in its Model S series. Well, there's certainly plenty of interest.
Tesla's Q4 2012 earnings: $90 million net loss, but forecasts a profit for Q1 2013
If you're one Elon Musk, you're probably ready for just about anything to take the place of the only story dominating the Tesla tagline for the past few weeks. Of course, a $90 million net loss isn't the ideal story to overtake the Model S kerfuffle, but hey -- at least the company's aiming to pull in a profit next quarter. In a bid to keep investors focused on the positive, the automaker's Q4 2012 shareholder letter notes that Tesla is officially predicting its first quarterly profit in Q1 2013, sliding up from "late 2013." For the quarter that just wrapped, the firm saw revenues of $306 million (a 500 percent increase sequentially from the $50.1 million seen in Q3 2012), and it ended the year with $221 million in total cash after having made the first quarterly principal payment of $12.7 million to repay the loan to the U.S. Department of Energy. Tesla also plans to deliver some 20,000 Model S vehicles in 2013, with around 4,500 of those happening in Q1. Europeans and Asians can expect their deliveries in "summer" / "late this year" (respectively), with the first Model X deliveries to occur in early 2014. Musk also told investors that it plans to "spend significantly less on capital expenditures" in 2013 compared to 2012, helping to (hopefully) generate "slightly positive net income on a non-GAAP basis" in Q1 2013.
The Weekly Roundup for 01.14.2013
You might say the week is never really done in consumer technology news. Your workweek, however, hopefully draws to a close at some point. This is the Weekly Roundup on Engadget, a quick peek back at the top headlines for the past 7 days -- all handpicked by the editors here at the site. Click on through the break, and enjoy.
Tesla Model X SUV hands-on (video)
We've seen the Model X in the flesh before, at its showy unveiling last February at which Tesla CEO Elon Musk turned up to show off the "Falcon Wing" rear doors and the rather... compact seating arrangement that makes room for three full rows of short-legged human beings. Here in Detroit at NAIAS the 2014 model year car is making another appearance, doors open and interior fully-functional. We couldn't resist hopping in there to check out the 17-inch multi-function touch panel. Largely the same as that in the Model S, the panel lets you manage climate control, navigation and, yes, do a little web surfing too. It's all demonstrated in the video after the break.
Tesla gets $10 million grant from California to help with Model X production
Tesla's outspoken CEO, Elon Musk, said last week that he expects his company's financials to be somewhat satisfactory in the very near future, but that's not to say a $10 million grant wouldn't be welcomed with open arms. Thanks to the California Energy Commission, Tesla will have some extra cash to work with during the production phase of its upcoming electric SUV, otherwise more formally known as the Model X. According to Forbes, Tesla will match California's gesture with $50 million of its own -- the total, naturally, will be used to ramp up production at its Fremont plant and to snag the necessary machinery and components to build that sleek Model X. There's still a good amount of time before this EV hits the masses, so it looks like watching those select demos will have to suffice for now.
Tesla CEO teases crossover and sports car EVs for 2016
Tesla founder Elon Musk would like to remind you that the Model X isn't the terminus of his company's electric car ambitions. Far from it: Musk tells Wired that Tesla's 2016 plans include both a crossover SUV akin to the BMW X3 as well as a pure sports car that goes beyond just a Roadster redux. The racier vehicle will have speed, but "not supercar pricing," the CEO says. He also elaborated on already-known plans for an 'entry' sedan in 2015, which should resemble a 20 to 25 percent smaller Model S and cost about $30,000 if all goes well. There's a wide gap between promises and reality in all those statements, but Musk has a reputation for largely delivering on target -- which gives us hope that there will finally be Tesla EVs within range of everyday budgets.
Tesla's Model X struts its stuff on video, gets serenaded by Elon Musk
We may have attended the Model X premiere, but despite us pleading for a ride-along, Tesla PR insisted only those who'd plunked cash for a pre-order that evening would get the chauffeur treatment. Thankfully there's YouTube user TheSpeedRead, who either threw down enough cash or was swift enough to evade security, slipping into a Model X and gratuitously posting it for all to see. In the video above you'll catch a glimpse of the interior, which features the same 17-inch touchscreen as in the Model S. In addition, a Tesla employee muses about the advantages of its dual motor AWD system and low center of gravity as he sashays the crossover through a slalom course outside Tesla's design HQ. Our friends at Autoblog Green also culled a video from SmartPlanet featuring the company's CEO, Elon Musk, reflecting on the advantages of the Model X's unique "Falcon Wing" rear doors and touting the advantages of not having a space-hogging combustion engine in its front -- enabling the front trunk, or Frunk, to serve as a crumple zone "two to three times longer" than in competing vehicles. Get the full sales pitch from the entrepreneur extraordinaire after the break.
Tesla unveils Model X SUV, wants to be your all-electric crossover
We're here at the Tesla Design Studio in Los Angeles, where Elon Musk just unveiled his startup's third vehicle: an SUV it calls the Model X. It's party piece is a pair of double-hinged "Falcon Wing" rear doors which apparently make loading people and things easier, as you reach into the car not over it. According to Musk they'll open in tighter spots than a traditional door, and swivel high enough to fit a standing human. Powered by an AWD variant of the Model S' drivetrain, it'll do 0-60MPH in 4.4 seconds in its most performant guise, a figure that matches the most brawny variant of Tesla's sedan, despite being a much larger vehicle. And because it's devoid of a space-hogging ICE, that front portion is a trunk, Musk lovingly calls the "Frunk." Per GigaOm, the seven-seater will cost in the $50,000 to $70,000 range, with first deliveries of the "Signature Series" arriving in late 2013 before mass production starts in 2014. If that sounds like your kind of beat, those interested can begin reservations on Tesla's website tomorrow at noon. Update: Want to see the unveiling for yourself? Check out the video posted by Tesla, embedded after the break.
Tesla's Model X SUV reportedly pushed to February, first deliveries coming in 'late 2013'
So much for December, eh? While Tesla's been talking up an electric sport utility vehicle for months on end, it's evidently harder than expected to actually deliver it. Shocking, we know. The latest hit in the saga comes via GigaOM, who has confirmed with Tesla CEO Elon Musk that the Model X will finally -- finally -- see a public unveiling on February 9th. Details beyond that aren't yet known, but Musk seems adamant that the first paying customers will see theirs in "late 2013," with 15,000 units per year being pushed out starting in 2014. We'll let you know if get an invite, deal?
