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Tesla: Earnings still down, but rate of Model S production way up

According to its Third Quarter 2012 Shareholder Letter, Tesla "is now at over 200 cars per week or 10,000 cars per year, which is at the critical threshold needed for Tesla to generate positive operating cash flow."
That's an important milestone to be sure, but the news is actually even better; Tesla expects to ramp Model S production up to 400 cars per week (20,000 units/year) by December of 2012, and says it will deliver 2,500 to 3,000 units in the fourth quarter of 2012. That's lower than the previous target of 5,000 in 2012, but it's more an issue of delayed achievement rather than missing the mark altogether.
All of that production bodes well for the future, but as of today, the automaker has yet to earn real money. Revenue for the third quarter of 2012 was $50 million, equating to a net loss of about $110 million after expenses were tallied. The stock market likes the numbers, with TSLA shares rising 8.9 percent on Monday after the report was released.

Tesla Supercharger wins AOL Autos Tech of the Year award

The votes are in, the ballots have been counted and the envelope is open. Together with our partners at AOL Autos, we're proud to announce the winner of our second annual Technology of the Year award. After having awarded the inaugural prize last year to Chrysler for its UConnect infotainment system, this year we've selected the Tesla Supercharger network as the top technological advancement in the automotive industry.
While enthusiasts will likely associate the name "supercharger" with forced induction, Tesla has successfully redefined the term to apply to its increasingly sprawling network of charging stations across the country. Drive your Model S up to one of the 54 such stations in the United States, and you can be on your way with a full charge in just 20 minutes, instead of the full eight hours it usually takes. With much of the industry and government still wringing its hands over a lack of infrastructure for alternative fuels, Tesla has taken the reins and is working to fix the problem itself.
The winner was selected from a compelling list of candidates by a jury including editors from AOL Autos, Autoblog, AutoblogGreen, Translogic and even Engadget. The Tesla Supercharger beat out such contenders as Chevy's MyLink Valet Mode, Infiniti Backup Collision Intervention, Volvo Pedestrian and Cyclist Detection, Mopar In-Vehicle Wireless Charging and Mercedes-Benz Intelligent Drive to claim the hardware, which was presented at this week's CES show in Las Vegas.

Tesla selling like gangbusters in China

"Will it play in Peoria?" asks the age-old question about how Broadway shows would be received in Middle America. Well, apparently Tesla Motors plays well in Beijing. It's part of Tesla chief Elon Musk's grand plan, of course. The California-based maker of the battery-electric Model S has delivered about 1,000 of the vehicles in China since shipments started there in April, Bloomberg News says, citing Dougherty & Co. analyst Andrea James, Barclays Plc analyst Brian Johnson and Wedbush Securities analyst Craig Irwin. Tesla also started shipping its first right-had drive Model S sedans to the UK in June. It is estimated that all those deliveries helped push Tesla's second-quarter global vehicle deliveries close to the 7,550 mark, which is more than the company forecast and would set a new quarterly record (Tesla's second-quarter results will be announced later today). It would also mark about a 45 percent jump from Tesla's 2Q sales a year ago. The Model S is priced at about $120,000 US in China (the culprits include the top-of-the-line battery pack as standard equipment and steep taxes that the government charges on vehicle imports) but that hasn't swayed status-conscious buyers from footing the bill, apparently. Tesla declined to comment on the China sales estimate when contacted by AutoblogGreen but we may learn more later today.