Tesla Motors, Inc. is an American automotive and
energy storage company that designs, manufactures, and sells electric cars,
electric vehicle powertrain components, and battery products. Tesla Motors is a
public company that trades on the NASDAQ stock exchange under the symbol
TSLA. During the first quarter of 2013, Tesla posted profits for the first
time in its history.
Tesla first gained widespread attention following
their production of the Tesla Roadster, the first fully electric sports car.
The company's second vehicle is the Model S, a fully electric luxury sedan,
which was followed by the Model X, a crossover. Its next vehicle is the Model
3. Global Model S sales passed the 100,000 unit milestone in December 2015,
three and a half years after its introduction. The Model S was the world's best
selling plug-in electric vehicle in 2015. As of June 2016, the Model S ranks as
the world's second best selling plug-in car in history after the Nissan Leaf.
As of 30 June 2016, Tesla Motors has sold almost 140,000 electric cars
worldwide since delivery of its first Tesla Roadster in 2008.
Tesla manufactures equipment for home and office
battery charging, and has installed a network of high-powered Superchargers
across North America, Europe and Asia. The company also operates a Destination
Charging program, under which shops, restaurants and other venues are offered
fast chargers for their customers.
CEO Elon Musk has said that he envisions Tesla
Motors as an independent automaker, aimed at eventually offering electric cars
at prices affordable to the average consumer. Pricing for the Tesla Model 3 in
the United States, slated to begin retail deliveries by the end of 2017, will
start at US$35,000 before any government incentives.
Tesla Motors is named after electrical engineer and
physicist Nikola Tesla. The Tesla Roadster uses an AC motor descended directly
from Tesla's original 1882 design. The Tesla Roadster, the company's first
vehicle, was the first production automobile to use lithium-ion battery cells
and the first production EV with a range greater than 200 miles (320 km) per
charge. Between 2008 and March 2012, Tesla sold more than 2,250 Roadsters in 31
countries. Tesla stopped taking orders for the Roadster in the U.S. market in
August 2011. In December 2012, Tesla employed almost 3,000 full-time employees.
By December 31, 2015, this number had grown to 13,058 employees.
Tesla unveiled the Tesla Model S all-electric sedan
on March 26, 2009, and began deliveries in June 2012. First deliveries of the
Model X began in September 2015. Global sales of the Model S passed the 100,000
unit milestone in December 2015, three years and a half after its
introduction.The Tesla Model 3, the company's first
model aimed for the mass market, was unveiled in March 2016. One week after the unveiling event, global reservations totaled over 325,000 units, representing potential sales of over US$14 billion
Tesla Motors was incorporated in July 2003 by Martin
Eberhard and Marc Tarpenning who financed the company until the Series A round
of funding.
Musk led the Series A round of investment in
February 2004, joining Tesla's board of directors as its chairman as well as in
operational roles. Musk was the controlling investor in Tesla from the first
financing round, funding the large majority of the Series A capital investment
round of US$7.5 million with personal funds. Tesla's primary goal was to commercialize
electric vehicles, starting with a premium sports car aimed at early adopters
and then moving as rapidly as possible into more mainstream vehicles, including
sedans and affordable compacts.
From the beginning, Musk consistently maintained
that Tesla's long-term strategic goal was to create affordable mass market
electric vehicles.
Tesla Motors signed a production contract on July
11, 2005, with Group Lotus to produce "gliders" (complete cars minus
powertrain). The contract ran through March 2011, but the two automakers
extended the deal to keep the electric Roadster in production through December
2011 with a minimum number of 2,400 units.
Musk led Tesla Motors' Series B US$13 million
investment round. Musk co-led the third, US$40 million round in May 2006.
Tesla's third round included investment from prominent entrepreneurs including
Google co-founders Sergey Brin & Larry Page. The fourth round in May 2007
added another US$45 million and brought the total investments to over US$105
million through private financing.
According to Musk, Tesla was forced to reduce the
company workforce by about 10% to lower its burn rate, which was out of control
in 2007. In May 2008, The Truth About Cars launched a "Tesla Death
Watch", as Tesla needed another round of finance to survive. In October
2008, Musk became CEO and fired 25% of Tesla employees. Drori became
vice-chairman, but then left the company in December. In December a fifth round
added another US$40 million avoiding bankruptcy.
By January 2009, Tesla had raised US$187 million and
delivered 147 cars. Musk had contributed US$70 million of his own money to the
company. The prototype Model S was displayed at a press conference on March 26,
2009. On May 19, 2009, Germany's Daimler AG, maker of Mercedes-Benz, acquired
an equity stake of less than 10% of Tesla for a reported US$50 million,in
effect saving Tesla.
In June 2009 Tesla was approved to receive US$465
million in low-interest-bearing loans from the 2007 US$8 billion Advanced
Technology Vehicles Manufacturing Loan Program by the United States Department
of Energy. The funding came in 2010, and supported engineering and production
of the Model S sedan, as well as the development of commercial powertrain
technology. Tesla repaid the loan in May 2013 as the first of the automakers.
On June 29, 2010, Tesla Motors launched its initial
public offering (IPO) on NASDAQ. 13,300,000 shares of common stock were issued
to the public at a price of US$17.00 per share.The IPO raised US$226 million
for the company. It was the first American car maker to go public since the
Ford Motor Company had its IPO in 1956, and by 2014 Tesla had market value half
that of Ford. Model S deliveries began in June 2012.
As of 2014, Tesla has a US Corporate Average Fuel
Economy (CAFE) of 276 mpg.
Tesla makes its cars at the Tesla Factory in
California. As a result of the high demand for Model 3, in May 2016 Tesla
Motors announced its decision to advance its 500,000 total unit build plan
(combined for Model S, Model X, and Model 3) to 2018, two years earlier than
previously planned, in order to accelerate its target for Model 3 output. This
in turn can allow more Model 3 buyers to benefit from the $7,500 tax credit
before the limit of 200,000 cars per maker since 2010 reduces the credit.
Tesla has financed operations (production,
development, administration, etc.) partly by sales income, stock offering and
bond sales. The US authorities encourage production of non-polluting vehicles
(electric or other) by legislating incentives for manufacturers, usually tax
credits and ZEV credits from other manufacturers.In May 2013 Tesla raised $1.02
billion ($660m from bonds) partially to repay the DOE loans after their first
profitable quarter, in February 2014 $2 billion from bonds (building GigaFactory),
in August 2015 $738 million in stock (for the Model X), and in May 2016 $1.46
billion in stock ($1.26 billion for the Model 3).Tesla has raised over $4.5
billion since the IPO in 2010. As of January 29, 2016, Musk owns about 28.9
million Tesla shares, which equates to about 22% of the company. Tesla states
that its automotive branch has a gross margin of 23.1% as of 2Q2016. However,
expenditures for future operation are bigger than product profit, resulting in
a net loss.
Tesla's strategy has been to emulate typical
technological-product life cycles and initially enter the automotive market
with an expensive, high-end product targeted at affluent buyers. As the
company, its products, and consumer acceptance matured, it is moving into
larger, more competitive markets at lower price points.The battery and electric
drivetrain technology for each model would be developed and paid for through
sales of the former models. The Roadster was low-volume, priced at US$109,000.
Model S and X are mid-price and mid-volume; Model S had a base price of
US$57,400. Model 3 is aimed at high-volume with a base price of US$35,000. This
business strategy is very popular in the technology industry such as for
cellular phones, laptop computers, and flat-screen televisions. According to a
blog post by Musk, "New technology in any field takes a few versions to
optimize before reaching the mass market, and in this case it is competing with
150 years and trillions of dollars spent on gasoline cars."
Tesla Motor's high degree of vertical integration
(80% in 2016 according to Goldman Sachs) such as proprietary charging
infrastructure is rare in the automotive industry, where companies typically
focus on engine manufacturing and vehicle assembly.
Some of Tesla's stated goals are to increase the
number and variety of electric vehicles (EVs) available to mainstream consumers
by:
selling its own vehicles in company-owned showrooms
and online;
selling powertrain components to other automakers
serving as a catalyst and positive example to other
automakers
Tesla focuses on pure-electric propulsion
technology, even for larger vehicles and ranges beyond 200 miles (320 km). Musk
won the 2010 Automotive Executive of the Year Innovator Award for hastening the
development of electric vehicles throughout the world.
Tesla aims to disrupt the automotive industry by
bringing many innovative pieces which fit together to bring tremendous
advantages; this strategy was called 'complex coordination' by Tesla investor
Peter Thiel (see PayPal Mafia) .
Arnnon Geshuri, the Vice President of Human
Resources since November 2009, has committed to bringing manufacturing jobs
"back to California". In 2015, Geshuri led a hiring spree for Tesla
about which he said; "In the last 14 months we've had 1.5 million
applications from around the world. People want to work here." Geshuri
also emphasizes hiring military veterans, saying "Veterans are a great
source of talent for Tesla, and we're going after it."
On August 1, 2016, Tesla Motors Inc. publicly
announced that it was purchasing SolarCity Corp. SolarCity is the largest
installer of rooftop solar systems in the United States. Tesla will buy the
company for $2.6 billion in stock. The purchase will be completed in the fourth
quarter of 2016.
Tesla Motors operates more than 200 stores and
galleries, 120 of which are outside the USA. It owns the stores and sells
directly to customers via the internet and in non-US stores.
In August 2015, Tesla launched a revamp of its
stores worldwide for the debut of its Model X. Stores will include interactive
displays focused on four themes: safety, autopilot, charging network and the
dual motors that power each axle.5
There are stores and galleries—usually located in
shopping malls—in 22 US states and Washington DC. Customers cannot buy vehicles
from stores, only from the Tesla Motors website. The stores serve as showrooms
that allow people to learn about the company and its vehicles. Some galleries
are located in states with restrictive dealership protection laws which prevent
discussing price, financing, and test drives, as well as other restrictions.
Tesla's strategy of direct customer sales and owning
stores and service centers is different from the standard dealership model in
the US vehicle marketplace. Tesla Motors is the only automaker that sells cars
directly to consumers; all other automakers use independently owned dealerships
(partly due to earlier conflict), although some automakers provide online
configuration and financing. 48 states have laws that limit or ban
manufacturers from selling vehicles directly to consumers, and although Tesla
has no independent dealerships, dealership associations in multiple states have
filed numerous lawsuits against Tesla Motors, to prevent the company from
selling cars. North Carolina and New Hampshire sided with Tesla, while Virginia
and Texas sided with dealers.
Countries other than USA do not have such laws
protecting car dealership. The Federal Trade Commission recommends allowing
direct manufacturer sales, which analysts believe would save consumers 8% per
purchase on average.The National Automobile Dealers Association states that
franchises (such as offered by its members) offer better value for customers
than direct sales.
Under a buyback program called Certified Pre-Owned
(CPO) available in 37 US states, a Tesla Model S is sold with the right to
return it to the company after three years for a reimbursement of 43% to 50% of
its initial price. This reimbursement matches the trade-in values of German
luxury cars of that age. In addition to maintaining a high resale value of its
cars, Tesla Motors hopes to secure a supply of used cars to refurbish and
re-sell with warranty. According to Automotive News, the profit margin on used
car sales in the USA is about triple that on new cars, and because Tesla sells
directly to consumers, it would collect resale profits. In May 2015, Tesla
started selling refurbished Model S in the USA and within a month sold 1600
cars to buyers younger, less wealthy and a lower proportion of whom were from
California than buyers of new Model S cars. As of July 2015, 269 used Model S
were for sale in USA Tesla stores, with a four-year, 50,000-mile warranty. Used
3 year old Model S sell for about 62% of their original price.
As of September 2015, similar programs existed in
Canada (in 3 locations), Austria (3 locations), Belgium (3), Denmark (2),
France (3), Germany (6), Britain (3), Netherlands (4), Norway (5), Sweden (2)
and Switzerland (5). The program ended in some countries in July 2016, but
continued in others.
Tesla Motors builds electric powertrain components
for vehicles from other automakers, including the lowest-priced car from
Daimler, the Smart ForTwo electric drive, the Toyota RAV4 EV, and
Freightliner's Custom Chassis Electric Van.
Unlike other automakers, Tesla does not use
single-purpose, large battery cells, but thousands of small, cylindrical,
lithium-ion 18650-like commodity cells used in laptops and other consumer
electronics devices. It uses a version of these cells that is designed to be
cheaper to manufacture and lighter than standard cells by removing some safety
features. According to Tesla, these features are redundant because of the
advanced thermal management system and a intumescent chemical in the battery to
prevent fires. Panasonic is the only supplier of the battery cells for the car
company, and cooperates with Tesla in the Gigafactory.
Tesla Motors may have the lowest costs for electric
car batteries, estimated at US$200 per kWh.] Tesla indicated in 2016 that their
battery pack costs less than $190/kWh. Argonne Labs estimates $163/kWh at
500,000 packs per year.Tesla charges US$400/kWh for the 85-kWh battery,
US$10,000 more than the 60-kWh battery. At US$200/kWh, the battery in the
60-kWh Model S would cost US$12,000, while the 85-kWh battery would cost
US$17,000. The price increase is closer to US$8,000, because supercharging is
included in the higher price. Use of lifetime supercharging was a US$2,500
option for the early 40-kWh and 60-kWh versions of Model S.
Unlike the Tesla Roadster, whose battery is behind
the seats, the Model S, 3 and X batteries are inside the floor. This saves interior
space and trunk space but, together with the low ride of the Model S, increases
risk of battery damage by debris or impact. To protect the battery, the Model S
has 0.25 in (6 mm) aluminum-alloy armor plate. The battery's location allows
quick battery swapping, which can take as little as 90 seconds in the Model S.
Tesla's first and only battery swap station is located at Harris Ranch,
California, and became operational in December 2014. Due to lack of customer
interest, battery swapping will not expand. Straubel expects batteries to last
10-15 years, and discounts using electric cars to charge the grid (V2G) because
battery wear outweighs economic benefit. He also prefers recycling over re-use
for grid once batteries have reached the end of their useful car life. Since
2008, Tesla has worked with ToxCo/Kinsbursky to recycle worn out RoHS
batteries, which will be an integral part of GigaFactory.
Tesla CEO Elon Musk announced in June 2014, that the
company will allow its technology patents be used by anyone in good faith.
Post-2014 agreements were expected to be executed that would include provisions
whereby the recipients agree not to file patent suits against Tesla, or to copy
its designs directly. Reasons expressed for this stance include attracting and
motivating talented employees, as well as to accelerate the mass market
advancement of electric cars for sustainable transport. "The unfortunate
reality is, electric car programs (or programs for any vehicle that doesn't
burn hydrocarbons) at the major manufacturers are small to non-existent,
constituting an average of far less than 1% of their total vehicle sales,"
Musk said. Tesla will still hold other intellectual property, such as
trademarks and trade secrets, which would help to prevent direct copying of its
vehicles.
Beginning with vehicles manufactured in late
September 2014, all new Model S are equipped with a camera mounted at the top
of the windshield, forward looking radar (supplied by Bosch) in the lower grill
and ultrasonic acoustic location sensors in the front and rear bumpers that
provide a 360-degree buffer zone around the car. This equipment allows vehicles
to detect road signs, lane markings, obstacles and other vehicles. In addition
to adaptive cruise control and lane departure warning, a US$2,500 "Tech
Package" option will allow this system to enable semi-autonomous drive
(called Summon) and parking capabilities (called AutoPark).These features were
activated via over-the-air software updates as of October 15, 2015. The technology
was developed in partnership with the Israeli company Mobileye. In July 2016,
Mobileye and Tesla ended their business relationship; the AutoPilot system as
of version 8 uses the radar as the primary sensor instead of the camera.
General Motors' then-Vice chairman Robert Lutz said
in 2007 that the Tesla Roadster inspired him to push GM to develop the
Chevrolet Volt, a plug-in hybrid sedan. In an August 2009 edition of The New
Yorker, Lutz was quoted as saying, "All the geniuses here at General
Motors kept saying lithium-ion technology is 10 years away, and Toyota agreed
with us—and boom, along comes Tesla. So I said, 'How come some tiny little
California startup, run by guys who know nothing about the car business, can do
this, and we can't?' That was the crowbar that helped break up the log
jam." Tesla's success with the Model S sedan has pressured other
luxury-car makers to enter the alternative-fuel market to "challenge
Tesla"
As of 30 June 2016, Tesla Motors has sold over
139,000 electric cars worldwide since delivery of its first Tesla Roadster in
2008. The top selling car of Tesla's line-up is the Model S, with global sales
of 129,412 units between June 2012 and June 2016, followed by the Model X with
7,250 units sold between September 2015 and June 2016, and the Roadster with
about 2,450 units sold globally through December 2012. Tesla's fourth vehicle,
the Model 3, is aimed for the mass market and retail deliveries are scheduled
to begin by late 2017.
Tesla Motors' first production vehicle, the Tesla
Roadster, was an all-electric sports car. The Roadster was the first
highway-capable all-electric vehicle in serial production for sale in the
United States in the modern era. The Roadster was also the first production
automobile to use lithium-ion battery cells and first mass production battery
electric vehicle to travel more than 200 miles (320 km) per charge.
Prototypes were introduced to the public in July
2006. The Tesla Roadster was featured on the cover of Time in December 2006 as
the recipient of the magazine's "Best Inventions 2006—Transportation
Invention" award.The first "Signature One Hundred" set of fully
equipped Roadsters sold out in less than three weeks,the second hundred sold
out by October 2007, and general production began on March 17, 2008.Since February
2008 two new models were introduced, one in July 2009, and another in July
2010.
In January 2010, Tesla began producing its first
right-hand-drive Roadsters for the UK and Ireland, then began selling them in
mid-2010 in Japan, Singapore, Hong Kong and Australia. Tesla produced the
Roadster until early 2012, when its supply of Lotus Elise gliders ran out, as
its contract with Lotus Cars for 2,500 gliders expired at the end of 2011.
Tesla stopped taking orders for the Roadster in the U.S. market in August 2011.
Featuring new options and enhanced features, the 2012 Tesla Roadster was sold
in limited numbers only in Europe, Asia and Australia. The next generation is
expected to be introduced in 2019, based on a shortened version of the platform
developed for the Tesla Model S. Tesla sold more than 2,400 Roadsters in 31
countries through September 2012. Most of the remaining Roadsters were sold
during the fourth quarter of 2012. The U.S. was the leading market with about
1,800 Roadsters sold.
The car had an average range of 245 miles (394 km)
per charge according to Tesla. On October 27, 2009, the Roadster driven by
Simon Hackett drove the entire 313-mile (504 km) segment of Australia's annual
Global Green Challenge on a single charge, at an average speed of 25 mph (40
km/h). The Tesla Roadster can accelerate from zero to 60 mph (97 km/h) in under
4 seconds and has a top speed of 125 mph (201 km/h). The base price of the car
is US$109,000 (€84,000 or GB£87,945).The Roadster Sport price started at
US$128,500 in the United States and €112,000 (excluding VAT) in Europe.
Deliveries began in July 2009. Motor Trend reported that the Roadster Sport
recorded a 0–60 mph of 3.70 seconds and a quarter-mile test at 12.6 sec @ 102.6
mph (165.1 km/h), and stated "Tesla is the first maker to crack the EV
legitimacy barrier in a century."
The Model S was announced in a press release on June
30, 2008.The sedan was originally code-named "Whitestar Retail deliveries
began in the US on June 22, 2012.The first delivery of a Model S to a retail
customer in Europe took place on August 7, 2013.Deliveries in China began on
April 22, 2014.First deliveries of the right-hand-drive model destined for the
UK, Australia, Hong Kong and Japan were made as scheduled in 2014.The Model S
was to have three battery pack options for a range of up to 265 miles (426 km)
per charge,but this was reduced to two, due to lack of demand for the shortest
range vehicle. The United States Environmental Protection Agency range for the
85 kW·h battery pack model, the first trim launched in the United States
market, is 265 mi (426 km),and 208 mi (335 km) for the model with the 60 kW·h
battery.
In October 2014, Tesla announced the 85D and P85D
dual-motor all-wheel drive variants of the Model S.The high-end P85D can
accelerate from 0 to 60 mph (0 to 97 km/h) in 3.2 seconds and has a top speed
of 155 miles per hour (249 km/h), compared to the Model P85's 130 miles per
hour (210 km/h).The Model S 85D can cruise at 65 mph (105 km/h) for 295 miles
(475 km) on a single charge, 10 miles (16 km) more than the Model S 85.The
control system shifts power between the motors, so that each always operates at
its most efficient point.
In April 2015, Tesla Motors announced a new 70D to
replace the 60. The 70D includes the Supercharger option and is rated at 240
miles (386 km) on a charge.In July 2015, Tesla announced the 90 kW-h model,
with 90, 90D, and P90D batteries. A higher-performance motor would be
available, with Ludicrous Mode, giving the top-of-the-line variant 762 hp and a
1.1g acceleration.In August 2016, Telsa introduced the P100D to be the new top
model, replacing the P90D. The P100D model has a 100kWh battery, a 0-60 mph
time of 2.5 seconds and over 300 miles of range.
In April 2016, Tesla updated the design of the Model
S to look more like the Model X and made Model S 70, 70D, 75, 75D, 90 and 90D
versions available. 70 and 70D Model S owners have the option to unlock the 75
kWh capacity via a software update, adding up to 19 miles per charge.The 60 and
60D, reintroduced in June 2016, owners have a US$9,000 anytime option to unlock
the full 75 kWh capacity via a software update.
A total of 2,650 Model S cars were sold in North
America during 2012, mostly in the United States. Sales in Europe and North
America totaled 22,477 units in 2013.In 2013, the Model S was the top-selling
full-size luxury sedan in the US, ahead of the Mercedes-Benz S-Class (13,303)
which was top-selling in the category in 2012, and also surpassing the BMW 7
Series (10,932), Lexus LS (10,727), Audi A8 (6,300) and Porsche Panamera
(5,421).During 2014, a total of 31,655 units were delivered worldwide.The Model
S ranked as the world's second best-selling plug-in electric vehicle after the
Nissan Leaf in 2014.
Model S sales in the American market reached the
50,000 unit milestone in July 2015. Global Model S sales passed the 100,000
unit milestone in December 2015, three years and a half after its
introduction.The Model S, with total global sales of 50,446 units, was the
world's best selling plug-in electric vehicle in 2015, up from second best in
2014.The Model S also ranked as the top selling plug-in electric car in the
U.S. in 2015.In addition, the Model S topped the Western European luxury car
segment in 2015 with 15,787 units sold, ahead of the Mercedes-Benz S-Class
(14,990), the segment's leader in previous years.Sales during the first half of
2016 totalled 22,184 units.As of June 2016, the Model S, with a more than
129,000 units sold worldwide since its introduction, ranks as the world's
all-time second best selling plug-in car after the Nissan Leaf (about 225,000).
The United States is the world's leading Model S
market with about 75,000 units sold up until June 2016.Norway is the Model S
largest overseas market,with 10,065 new units registered through December 2015
.The Tesla Model S became the first electric car ever to top the monthly sales
ranking in any country, when the electric car achieved the first place in the
Norwegian new car sales list in September 2013. The Model S captured a market share
of 5.1% of all new car sales that month.In December 2013, and with a 4.9%
market share, the Model S topped one more time the best selling new car list in
Norway.In March 2014 Tesla Model S became the best-ever selling car for over a
period of one month in Norway, with a 10.8% market share of all new cars
registered in the country.That month, the Tesla Model S also broke the
28-year-old record for monthly sales of a single model regardless of its power
source, with 1,493 units sold, surpassing the Ford Sierra, which sold 1,454
units in May 1986.
Tesla manufactures the Model S in Fremont,
California, in an assembly plant formerly operated by NUMMI, a defunct joint
venture of Toyota and General Motors, now called Tesla Factory. Tesla purchased
a stake in the site in May 2010 for US$42 million,and opened the facility in
October 2010.For the European market, Tesla assembles and distributes the Model
S from its European Distribution Center in Tilburg, the Netherlands. Tesla
chose Tilburg because of its location near the port of Rotterdam, where Models
S components arrive from the U.S. The center also serves as a workshop and
spare parts warehouse. Cars are built and tested in Fremont. Then, the battery
pack, the electric motor and parts are disassembled and shipped separately to
Tilburg, where the cars are reassembled.
In November 2014 Tesla Motors announced the
completion of upgrades to its Fremont, California factory. The factory shut
down for two weeks in late summer to complete modifications to handle the addition
of the all-wheel drive Dual Motor Model S. The upgrades will help the company
raise production by 50 percent in 2015.
Among other awards, the Model S won the 2013
"Motor Trend Car of the Year", the 2013 "World Green
Car",Automobile Magazine's 2013 "Car of the Year",and Time
Magazine Best 25 Inventions of the Year 2012 award.In June 2015, three years
after the Model S introduction and with almost 75,000 Model S sedans delivered
worldwide, Tesla announced that Model S owners have accumulated over 1 billion
electric miles (1.6 billion km) travelled.The Tesla Model S is the first
plug-in electric vehicle fleet to reach the 1 billion electric miles milestone.
In October 2014 General Motors reported that Volt owners had accumulated a
total of 629 million all-electric miles (over 1 billion kilometers) traveled;
while Nissan reported in December 2014 that Leaf owners had traveled 625
million miles (1 billion kilometers).
The Tesla Model X is a full-size crossover SUV.
Unveiled in February 2012,Model X deliveries started in September 2015.
More than a thousand people attended the 2012
unveiling, at which Musk said the car would enter production in 2013.In
February 2013, Tesla announced that production had been rescheduled to begin by
late 2014 in order to focus "on a commitment to bring profitability to the
company in 2013" and to achieve their production target of 20,000 Model S
cars in 2013.The company began taking reservations for the vehicle in 2013 and
said that deliveries would begin in 2014.
In November 2013, Tesla confirmed the company
expected to deliver the Model X in small numbers by end of 2014, with high
volume production planned for the second quarter of 2015.However, Tesla
announced in February 2014 that in order to focus on overseas roll outs of the
Model S during 2014, it expected to have production design Model X prototypes
in late 2014, and begin high-volume deliveries for retail customers in the
second quarter of 2015.In November 2014 Tesla again delayed the start of
deliveries till the third quarter of 2015.In August 2015, user groups estimated
around 30,000 X pre-orders, compared to 12,000 for the S.
Deliveries of the Model X Signature series began on
September 29, 2015. Pricing for the premium special version of the Model X
varies between US$132,000 and US$144,000.Model X sales totaled 2,400 units
during the first quarter of 2016. According to Tesla Motors, deliveries were
lower than expected because production was impacted by severe Model X supplier
parts shortages in the first two months of 2016.Sales during the second quarter
of 2016 totaled 4,638 units. Although Tesla's production was up 20% from the
previous quarter, the number of vehicles in transit at the end of June 2016 was
much higher than expected (5,150 including Model S cars), representing 35.8% of
the number of cars delivered in the quarter (14,402 vehicles including the
Model S).More than 7,000 Model X vehicles have been sold by the end of June
2016.
The Model 3 (stylized as "☰")was
previously called the Model E, and was codenamed Tesla BlueStar in the original
business plan.The current name was announced on Twitter on July 16, 2014.The
all-electric car will have a range of at least 215 miles (350 km). First
deliveries are expected in the US after late 2017 and full production in 2018,
but CEO Elon Musk has said full production to fulfill expected demand could
take up to 2020.
On March 31, 2016, Tesla unveiled its Model 3 for an
invited audience via a live stream on Tesla's website.Potential customers were
first able to reserve spots in the queue at Tesla stores on March 31 with a
refundable deposit of US$1,000.Tens of thousands of people were reported
waiting in lines to reserve their spot.During the Model 3 unveiling event, it
was revealed that over 115,000 people had reserved the Model 3 prior to the
event.As of April 7, 2016, one week after the unveiling, Tesla Motors reported
over 325,000 reservations, more than triple the 107,000 Model S cars sold by
the end of 2015.These reservations represent potential sales of over US$14
billion.According to Tesla’s global vice-president Robin Ren, China is the
second largest market for the Model 3 after the US.Tesla reported net
reservations totaled about 373,000 as of 15 May 2016, after about 8,000
cancellations by customers and about 4,200 cancellations by Tesla of
reservations that appeared to be duplicates from speculators.
Tesla Motors claims "this the single biggest
one-week launch of any product ever."According to Bloomberg News,
"the Model 3's unveiling was unique in the 100-year history of the
mass-market automobile." Bloomberg reported that while the 1955 Citroën DS
took in 80,000 deposits over 10-days at the Paris Auto Show, the Model 3 took 232,000
reservations in two days. In another comparison, the original iPhone had
270,000 sales and reservations also in two days.
During the event, Tesla Motors announced that the
Model 3 will be priced starting at US$35,000 before any applicable government
incentives. However, with options, CEO Elon Musk predicted that the average
sales price will approach US$42,000.Musk also stated that all Model 3s will
support supercharging.Tesla also announced plans to make Model 3 available in
several new markets including India, Brazil, South Africa, South Korea, New
Zealand, Singapore, and Ireland.
The company plans for the Model 3 are part of
Tesla's three step strategy to start at high price and move progressively
towards lower cost, where the battery and electric drivetrain technology would
be developed and paid for through sales of the Tesla Roadster and Tesla Model S
vehicles.Whereas the Roadster used carbon fiber and the Model S and X use
aluminum for the body, the composition of the Model 3 is unknown as of March
2016. Some expect it to use steel (for cost reasons), while others in
connection with the Model 3 note that the Tesla factory in March 2016 has a new
aluminum stamping press with a 10 to 20-fold increase in capacity.Musk has said
that Tesla will need to sell 500,000 cars per year (mostly Model 3) to become
profitable.According to Tesla's CTO, JB Straubel, in October 2015 most Tesla
engineers were working on the 3 rather than S or X. The design was finished in
July 2016.
Future Tesla Motors cars may enhance autonomous
driving. In 2014, CEO Elon Musk predicted fully autonomous driving technology
might be ready within 6 years, but "it will take several more years for
governments to work out the industry guidelines for wide embrace of the
innovation".
Other vehicle categories have been presaged. In June
2009, Tesla announced plans for electric minivans, crossover SUVs and electric
fleet vans for municipal governments.In 2010, Tesla articulated ideas besides
the Model X crossover: a utility van and cabriolet were discussed that, if
built, would be based on the second-generation platform like Model S.Besides
the third-generation platform to be used in Model 3, the possibility of a truck
was discussed in 2012.In July 2015, it was announced that a successor to the
Roadster would debut in 2019.In October 2015, Musk revealed a future 'Model Y'
that would be a Model 3/Model X-like cheaper crossover utility vehicle with
falcon-wing doors,and Tesla trademarked the name "Model Y" in
2013.Musk hopes to produce a car cheaper than the Model 3, to be affordable for
everyone
There will be future cars that will be even more
affordable down the road . . . With fourth generation and smaller cars and what
not, we’ll ultimately be in a position where everyone can afford the car.
— Elon Musk at the Future Transport Solutions
conference in Oslo, April 21, 2016
Musk wanted the first three models to spell S-E-X
but settled with "S3X" since Ford owns the trademark to "Model
E". However, the digit "3" will be stylized like three horizontal
bars, making it indistuingishable from the "E" in Tesla's logo.After
the Model Y is released, the four models will spell "S3XY".
Future models may also reach a 500 miles (800 km)
range, partially because of a new patented battery system, pairing metal-air
and lithium-ion batteries.
On July 20, 2016, Musk detailed his master plan for
Tesla that has been in the works for 10 years. It includes the manufacturing of
more affordable cars produced in higher volume, solar power roofs, mid-size
vehicles, SUV’s and pickup trucks, as well as the refinement of autonomous
vehicles and the creation of a sharing economy — in which, cars can be
requested and driven while the owner is not using them.A Tesla Minibus would be
built on the Model X platform.
