Tesla has released their shareholder statement for Q2 2011, and while it doesn’t make for the most exciting reading, it’s at least full of fairly good news. They’ve been on cruise control for quite a while now, if you will, designing and testing their Model S sedan, but there are plenty of pitfalls that could have afflicted the process, techniques and technologies that could have failed to pan out, and cost overruns that could have piled up. But no, things are going as expected and barring any major upsets, they should have the Model S rolling out in mid-2012 as planned.
Here are a few Q2 takeaways from the letter:
And that’s that. The full letter, with cost and sales breakdowns, can be read here (PDF), and more information, including a link to the investors’ conference call and Q&A, can be found at their investor relations page.
Basically we’re not going to hear much news until the production Model S starts hitting car mags (we’ll try to get one too), the Model X gets leaked or previewed, and the RAV4 gets priced and dated — all of which will be happening in 2012, most likely. That means a few more quiet quarters. With so many pre-orders for the Model S, they’re sure to have plenty of revenue as soon as they start charging their customers — with a few hundred million dollars locked down for the next few years, they’re feeling confident and I’m guessing their investors are as well.
Update: Elon Musk mentioned in the conference call that they plan to unveil the Model X prototype in mid-December.
Tesla Motors, founded by Elon Musk, Marc Tarpenning and Martin Eberhard, is a company that produces a high-performance electric sports car, and is backed by a number of high-profile investors. Introduced in June 2006 to the public complete with a test drive by California Governor Arnold Schwarzenegger, the Tesla Roadster is able to go from 0 to 60 in less than 4 seconds (competitive with Porsche and Lamborghini models), while also delivering 100 miles per gallon (double the...