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Tesla delivers 7,579 Model S EVs in Q2, maybe picks Reno, NV for Gigafactory

When it comes to describing its situation, not even Bob Ross could paint a prettier picture than Tesla Motors. The California automaker has had a good few months and announced today that it delivered 7,579 Model S EVs in the second quarter of 2014. That's the most the company has ever delivered in a three-month period, reflecting an expanded market that now spans new countries in Asia and Europe. Tesla also built 8,763 vehicles in that time frame, another record, thanks to getting more cells from battery supplier Panasonic, and says it remains "on track for more than 35,000 deliveries in 2014." Alongside the earlier announcement about the official Gigafactory announcement with Panasonic, the automaker also said today that it has broken ground on a "potential" location in Reno, NV, – validating earlier speculation – while it is still looking at locations in Arizona, California, New Mexico and Texas. Work at the site has mostly stopped for now, however, as the company doesn't want to begin pouring cement until state incentives are in place and a "compelling deal for all parties" has been struck. The ball in Nevada, according to CEO Elon Musk, is now in the hands of the state's governor and legislature. The 7,579 vehicles delivered last quarter continue an upward-moving trend line. In all of 2012, Tesla sold 2,650 Model S EVs. For 2013, the company delivered 4,900 vehicles in Q1, 5,150 in Q2, 5,500 in Q3 and 6,892 in Q4. In 2014, Tesla sold 7,535 Model S EVs in Q1. Add in the 7,579 from Q2 this year, and you've got 15,100 or so, meaning that Tesla needs the next two quarters to average out at around 10,000 each in order to hit the 35,000-vehicle goal. Tesla expects 2015 to be even better, saying that the rate at which its expanding means that its, "annualized delivery rate should exceed 100,000 units by the end of next year." In other words, deliveries for Q4 2015 should be around 25,000 EVs. A few other tidbits from the shareholder letter and today's conference call: Tesla had a loss of $62 million last quarter. The company's Fremont, CA factory is being upgraded to make the Model S and X on the same line and will be up and running next week. Speaking of next week, the first operational Model X Alpha prototypes should be ready by next week. Tesla expects North America to continue to contribute strong demand for its EVs, despite the Model S being available here for several years now.

Recharge Wrap-up: Dedicated stop-start battery, anti-Tesla states win Luddite Award

Arizona, Michigan, New Jersey and Texas have been awarded a Luddite Award for blocking Tesla sales. The collective honor is bestowed by the Information Technology & Innovation Foundation (ITIF) for standing "resolutely in opposition to innovation." It's a particularly hard blow for the proudly auto-centric state of Michigan, whose Governor Rick Snyder signed an anti-Tesla bill into law in October. ITIF is now accepting votes for the "worst of the worst," with the "winner" to be announced February 5. Among the awardees in the running are Virginia and Nevada for their stances on ridesharing services. Read more in the press release below, in the ITIF's report or at the Detroit Free Press. Tesla has put the finishing touches on its underground Supercharger station in London. The subterranean chargers reside below the Westfield London shopping mall, which is also home to a Tesla Store. The Westfield London station is Tesla's largest underground station in Europe. Have a look in the attached photo gallery, or visit Tesla's Facebook page for more. Johnson Controls has developed a dedicated battery for stop-start system. The small lithium-ion battery allows for more frequent and longer engine stops, improving fuel economy by as much as eight percent. It weighs just nine pounds, and with no need for thermal management, it offers more packaging freedom within the vehicle. The battery offers a lifespan of four to six years, with a price in the hundreds of dollars. Johnson Controls will debut the start-stop battery at the North American International Auto Show in Detroit, with deployment beginning in Europe in 2018. Read more at Automotive News. ITIF Announces 2014 Luddite Awards WASHINGTON – (January 5, 2015) Technological innovation is the wellspring of social and economic progress. Despite this, a growing array of interests-some economic, some ideological-now stand resolutely in opposition to innovation. These "neo-Luddites" have worked to convince the public and policymakers that technological innovation is something to be feared and contained. Their targets include genetically modified organisms, new Internet apps, smart electric meters, health IT, big data, and increasingly productivity itself. And if these advocates are successful Americans will suffer in the form of lower quality of life and reduced societal growth.

Tesla loses $50 million in Q1, Model X could be delayed until 2015

Maybe it's just because of our interest in the green automotive sector, but to us, Tesla Motors has got to be the most interesting and exciting company in the US to watch. We get giddy, for instance, over the release of stuff like shareholder letters and financial results, whereas when other companies announce these things, we yawn. Our feelings about today's publication of the California automaker's 2014 first quarter financial results, with accompanying letter and call with financial analysts, is no different. They contained, after all, tons of small news nuggets that help us put together a better picture of how it will move towards its overarching goal of changing the gasoline-powered paradigm. The important numbers released today are $50 million and 7,535. The first is how much the company lost (on a GAAP basis) – using the non-GAAP method that Tesla prefers, it actually saw $17 million in net income – while the second is the number of cars it produced in the first three months of this fiscal year. Though the reported earnings per share of $0.12 exceeded the expectations of many analysts, it was less than some of the more rosier forecasts, and so the stock (TSLA) is taking a beating in the after hours market and has tumbled down 14.5 percent to $186.85 as of this writing. Musk gave instructions to the China team that they "spend money as fast as they can without wasting it." Stock price aside, there is a lot to be happy about. Contrary to some recent reports, Tesla is continuing to see a rise in domestic demand – up 10 percent in the quarter – along with "significant sequential increase in worldwide net orders for Model S." China, the market that could easily become the company's biggest, is also the source of glad tidings with CEO Elon Musk saying he is "blown away" by the level of enthusiasm there. Since getting government approvals, the necessary building out of the Supercharger and Service Center infrastructure needed to support owners is going full speed ahead and Musk gave instructions to the China team that they "spend money as fast as they can without wasting it." Already there is a four-to-five month wait for cars in the country's mid-sized cities, where the work needs to happen, and that has led to some customer frustration.