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Tesla curbs forecast due to Model S issues, losses total $864.9M

It ain't easy creating a brand-new automaker from scratch. The fact that Elon Musk and Tesla have actually been able to bring not one, but two cars to market is in itself quite impressive. That said, the road has not been without its bumps, and Tesla is feeling some of the setbacks that come with being a fledgling automaker.
To that end, Tesla has revealed that it expects $400 million to $440 million in full-year revenue, or roughly $160 million less than its prior 2012 revenue forecasts. In a Securities and Exchange Commission filing on Monday, the electric carmaker said "We have methodically increased our Model S production at a slower rate than we had earlier anticipated," leading to the company figuring they'll fall short of the $560 million to $600 million they originally forecasted. Tesla also revealed a net cumulative loss of $864.9 million through June 30 of this year - Tesla has yet to break even as an automaking entity, but it remains something of a startup, so the fact that it has lost money to this point shouldn't be a major surprise - building cars is expensive, and learning how to do so is even more expensive. Following the disclosure, Tesla shares fell about 8.5 percent this morning in trading.
Tesla cites delays in suppliers for its Model S production shortcomings. The California automaker says it is working with suppliers to speed up deliveries and internally, it is adding shifts and automation to its manufacturing processes. With little more than half of the 5,000-vehicle target expected to be built by year's end, Tesla says it is four to five weeks behind its delivery goals.

Tesla, China Unicom setting up 400-station charging network in China

Tesla and China United Network Communications Corp. are working on something big. Like 400 public chargers in 120 cities big. These are not going to be Supercharger fast chargers that the California automaker is installing across the US and Europe, but don't worry, the two companies are going to install 20 Superchargers there. As with the Supercharger network, Tesla EV drivers will be able to juice up their cars for free at the 400 stations and the new Superchargers. The deal will work like this, according to Bloomberg: Tesla supplies the charging station parts and China Unicom provides the land. Laying the groundwork for easier electric vehicle charging is important, since Model S EVs are already selling well in China and CEO Elon Musk has said that the company expects sales there to reach the same level as in the US perhaps by 2015. Tesla and all plug-in vehicle sellers will benefit if China's plan to invest $16 billion on more charging stations comes to fruition. China Unicom is the second-biggest mobile phone company in China, which may help explain why TSLA stock jumped to a record high after the announcement and is climbing again today. As of this writing, the stock is just over $283, up $13.55 (5.02 percent) from last week.

Figuring out exactly how much it costs to charge Tesla Model S

Is the Tesla Model S an electricity guzzler? One driver trying to answer that question says it does gobble down more juice than previously thought, but it's not time to make Hummer jokes just yet. First, the goal: Tesla's claims that properly set up home-charging stations can get about a 91-percent efficiency rate. Rob M. from Teslarati has been diligently tracking electricity used by his home charging station – made up of a NEMA 14-50 outlet that was professionally installed and Tesla's Universal Mobile Connector (UMC) – since June, as we reported here. The results for the month that ended July 21 revealed that the Model S was taking in about 82 percent of the electricity it was pulling from the system, indicating an 18-percent loss of electricity. Most EVs are thought to charge at an 88 to 90-percent efficiency rate. The downside to his results? About $26 more per month in electricity costs than previously estimated on about 2,400 miles worth of driving. There is a positive upshot, though: his monthly fuel savings totaled about $334 compared to driving an internal combustion engine vehicle. These early results are intriguing, and make us wonder... Is anyone else checking in on their Model S charging efficiency?