Tesla update


Tesla has been in the news quite a bit as CEO Elon Musk tries to address all the turmoil at the company. John Calacanis is a proud owner of a Tesla Roadster, and he jus published a letter Musk has sent to Tesla owners.

As mentioned in a prior update, we delivered our 100th Roadster last month. Since then, we have delivered over 60 more cars to customers and will continue delivering cars at a rate of 15 per week (excluding holidays), rising to 30 per week in the spring. By the end of 2009, we will have delivered over 1,300 Roadsters in the United States and Europe.

Tesla is in the fortunate position of being sold out through October this year and we continue to add new sales each month, despite the negative economic climate. As a result, we expect to turn the corner on profitability by the middle of 2009, shortly after we reach our target of 30 per week production rate for the Roadster.

Due to our order backlog, it seems that owning a Roadster can be a smart investment. In November, well after the markets crashed, a Roadster was sold at the Happy Hearts Fund auction in New York City for $160,000. The first buyer then donated the car back to the charity and they resold it that same night for $150,000. Many Roadster owners that have taken delivery of their cars have already decided to purchase a second Roadster or Roadster Sport because they like the first one so much. And the Roadster has become the car to own for environmentally conscious celebrities, business leaders, and even royals.

Looks like things are stable at the company. Musk also addresses a partnership with Daimler to produce an all-electric version of the Smart Car. Good stuff.


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