Green Thoughts Blog Archive

Tesla Motors releases 2nd Quarter Earnings Report

08/05/2010


Image credit: Tesla Motors
Tesla Motors released their quarterly results for Q2 2010 which showed some promising news. Highlights include:
  • Revenue increased 36% from $20.8 million (Q1) to $28.4 million.
  • Gross margin increased from 19% (Q1) to 22%
  • Net loss increased from $29.5 million (Q1) to $38.5 million.
  • A $42 million purchase agreement for an automotive facility in California.
  • A $50 million investment from Toyota.
  • Initial public offering (IPO) which raised approximately $184 million.
The company has sold 1,200 Roadsters, which had a redesigned model released in July. The highly anticipated Model S is scheduled for release in 2012 and Tesla is hoping that the lower price tag, as opposed to the Roadster, will help make it more attractive to the masses. The Roadster sells for $100,000 and the Model S is expected to be in the $50,000 - $57,000 range.