2013 Tesla Model S on 2040-cars

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Tesla sold 6,892 Model S EVs in Q4, stock jumps in afterhours trading

Quarterly shareholder letters, with accompanying financial results, are an opportunity for companies to crow about their recent progress and instill excitement about future expectations. Tesla Motor's latest such release reveals it's coop is rife with roosters in full song. And for good reason. The California automaker announced today it earned $46 million in 4th quarter of 2013 on a non-GAAP basis – under generally accepted accounting principles (GAAP), which calculates leasing and stock-based employee remuneration differently, it actually lost $16 million – selling 6,892 very lovely Model S electric sedans in the process. Further, it passed its predicted 25 percent gross profit margin on its cars, hitting 25.8 percent on a non-GAAP basis. This means, for the fiscal year of 2013 it sold 22,477 vehicles in total and had over 2.5 billion in (non-GAAP) sales, which includes, of course, supply and development deals with Toyota and Daimler. TSLA has jumped to a record high in the $217 neighborhood. That's pretty durned good, and the stock market would seem to agree. With the financials results dropping just after the NASDAQ's close, the price for TSLA has jump around 12 percent – over $23 as of this writing – to a record high in the $217 neighborhood. Those share price increases aren't just based on past performance, though. The info drop also included plenty of things to indicate the future bodes well. The company expects both sales and production to continue to rise throughout 2014, with a new assembly line expected to help churn out 1,000 cars per week in the 3rd quarter and profit margins projected to hit 28 percent by the end of the year. On the demand side, Tesla's CEO Elon Musk stated during the conference call that he doesn't expect the company to be able to meet the demand that's coming from China. Its new Beijing store is now the company's biggest and busiest and deliveries don't even begin until spring. While European sales are a little slower than anticipated, the exec said he believes it will improve as soon as the company irons out a few technical difficulties that have arisen with charging amongst the different territories there. Apparently, not all power grids operate in exactly the same way. Speaking of reservations for the upcoming Model X SUV, Elon said demand is high. Quote: "If you are going fishing, fish are actually jumping in the boat." That vehicle is only expected to start reaching customers next spring.

Recharge Wrap-up: Tesla Electric Road Trip, Google autonomous cars vs. cyclists

Tesla is inviting owners on "Electric Road Trip" events on four continents. To celebrate the 2.5 billion electric miles Tesla owners have logged, the automaker is hosting a series of open house events at Destination Charger locations (think hotels and resorts) in various cities across North America, Australia, Asia, and Europe. Attendees will "have the opportunity to swap stories and share your favorite road trip experiences with fellow Tesla owners and like-minded fans," according to Tesla, as well as enjoy local food and drinks. Owners have received email invitations to the series of events, but those interested can also RSVP online. Learn more about the events at Tesla's website, and read more at Teslarati. Google has published its most recent autonomous vehicle testing results, this time with regard to sharing the road with cyclists. The system is programmed to predict when a cyclist will swerve around an open car door, leave room for cyclists during passing and other situations, recognize and remember cyclist had signals, and recognize a variety of bike styles – even unicycles. The report also lists two minor collisions with other vehicles in June, both occurring in Austin, Texas. In one instance, another car swerved into the Google car's lane. In the other, the Google car was rear-ended. Read more at Green Car Congress. Hyundai is expanding its fuel cell program in partnership with the Department of Energy (DOE) beyond Southern California. For the second phase of the fuel cell confirmation program, Hyundai will provide the DOE with a number of its Tucson Fuel Cell crossovers for daily use in Northern California, Washington, D.C., Denver, and Michigan. The partners are looking to expand the use of fuel cell vehicles to the rest of the country in the near future. Read more in the press release below. Hyundai And U.S. Department Of Energy Extend Fuel Cell Vehicle Loan Partnership In Concert With New D.C.-Based Hydrogen Fueling Station Latest, Phase II of current program prepares for rollout of fuel cell vehicles nationwide in near future WASHINGTON, July 11, 2016 /PRNewswire/ -- Hyundai and the U.S. Department of Energy (DOE) are extending their fuel cell vehicle confirmation program, originally from 2013 through 2015, to its second phase, from 2016 through 2017. The program involves Hyundai providing a number of Tucson Fuel Cell CUVs for daily use and confirmation by the DOE using existing hydrogen infrastructure.

Could Tesla build EVs in China as soon as 2017?

A 25-percent import tariff can certainly make an automaker take notice (to wit: Toyota). In Tesla's case, that means getting production capabilities on the ground in China as soon as possible. According to Bloomberg News, that could mean 2017. Or maybe not. Bloomberg, citing comments by Tesla chief Elon Musk made at Beijing's Geekpark Conference earlier this week, said the California-based maker of the Model S electric sedan may start making vehicles in China as soon as 2017 or 2018. Musk also envisions a substantial charging network throughout cities such as Beijing and Shanghai and obviously thinks the current Chinese resistance to plug-in vehicles will pass. The California-based automaker delivered its first nine Model S EVs in China this week. Of course, Musk has a way with hyperbole, and when contacted by AutoblogGreen, a company representative toned down such a timeframe. "We hope that local production in China is in Tesla's future so that we can manufacture our vehicles where they are sold," wrote Tesla spokeswoman Liz Jarvis-Shean in an e-mail to AutoblogGreen. "We aren't likely to produce cars in China within the next three to four years, however, nor are we currently in any serious discussions to do so." By making cars in China, Tesla, which opened a showroom in Beijing late last year, would avoid the 25 percent import tax China enforces on foreign-made vehicles. As it is, Tesla is pricing the 85-kilowatt hour version of the Model S at about $118,000 in China. That's about $47,000 higher than the US base price, but it's actually kind of "aggressive." Musk has said Tesla will sell as many as 5,000 vehicles in China this year, while Tesla executives have said they expect China to account for a third of Tesla's global sales this year and as much as half next year. Tesla sold about 22,300 vehicles in the US last year. Tesla has also started leasing the Model S in Switzerland for roughly $750 a month. Read more details in the press release below. Tesla and Sixt Leasing Announce Strategic Partnership in Switzerland ZURICH, April 22, 2014 /PRNewswire/ -- Swiss Customers Can Drive Model S for About CHF 660 per month, After Fuel and Tax Savings in Multiple Cantons Leasing Offer Includes Annual Service Performed by Tesla Tesla today announced an expansion of its strategic relationship with Sixt Leasing. Now Model S customers in Switzerland, as well as Germany, can benefit from compelling lease offers from Sixt Leasing.