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Tesla Pins Hopes on IPO and Model S Sedan

31.01.10

One week after finalizing the terms for a $465 million low cost federal administration loan, Tesla Motors on Friday filed for an commencing public offering. The company’s plan is to sell $100 million good of stock, and with a new level of capital in its coffers, to meet its efforts on launching its second instrument—the $58,000 five-seat Model S self-indulgence all-electric sedan .

“If we are to ever achieve profitability it will be dependent upon the fruitful development and successful commercial introduction and acceptance of automobiles such as the Archetype S, which may not occur,” Tesla said in the filing. Tesla from the outset planned to launch the car in 2011—but the widespread target is 2013.

Tesla defied the odds in bringing its $109,000 Roadster to make available. According to filing documents, Tesla sold a total of 937 Roadsters by the end of last year, of which a thickset number had been reserved in previous years. Yet, the New Zealand recorded a bottom-line loss of $31.5 million for the first nine months of 2009—and has obsolete a total of $236.4 million since its inception in 2004. Tesla said it will use $33 million of its anticipated 2010 important expenditures budget of $100 to $125 million to pay for parts of the powertrain and Pattern S production facility costs that are not covered by the federal loan.

Source: Hybrid Cars News

Study Raises Cost Estimate for Electric Cars

08.01.10

The reading, conducted by the Boston Consulting Accumulation, said battery costs were not expected to in as much as automakers have projected, making stimulating vehicles too expensive for most consumers even 10 years from now.

The unshaken predicted that electric cars would account for legitimate 6 percent of the global market in 2020, or about three million of an estimated 54.5 million vehicles sold over all.

The findings discriminate with the publicity that G.M., Ford Motor , Nissan and other manufacturers have been edifice for coming battery-powered models. On Thursday, G.M.’s chairman and chief chief executive officer, Edward E. Whitacre Jr. , called thrilling cars like the Volt, which has a Lilliputian range-extending gasoline motor, “the way of the future” and said such technology “will on the double become a very big part of General Motors.”

The Volt, Mr. Whitacre said, is “a announcement of good things to come, not only for this public limited company but for the U.S. auto industry and the car-buying public.”

Source: New York Times

Nissan gets $1.4-billion U.S. loan to build electric cars in Tennessee

28.01.10

SMYRNA, TENN. , Jan.28 – The U.S. Concern of Energy today announced it will loan Nissan North America $1.4 billion to remodel its manufacturing plant here for building its all-tense compact Leaf sedans and for the construction of a apparatus to make the batteries.

When the plants are fully operational, they will utilize 1,300 people. The assembly undercover will have the capacity to build 150,000 Leaf cars per year, and the battery instil will be able to manufacture 200,000 batteries annually.

The Leaf is a five-traveller sedan, approximately the size of a Nissan Sentra, which Nissan says will have a range of 100 miles and a top fly of 90 miles per hour.

The lithium-ion battery stuff can be recharged in 30 minutes at a adept-charge station, if one is available, or in 6 hours from a stodgy 220-volt household store.

The first ones are expected to go on sale till this year. Nissan expects to clerk the electric cars globally by 2012.

The Japanese industrialist has not announced pricing for the Leaf, but has indicated it will be in the chain of typical compact cars, which would put it at $20,000 or less.

Source: Examiner.com