Domain: teslamotors.com
Stories and comments across the archive that link to teslamotors.com.
Stories · 40
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Consumer Reports Calls For Tesla To Disable Autopilot (consumerreports.org)
Reader parallel_prankster writes: Consumer Reports is calling on Tesla to disable its "Autopilot" feature that enables hands-free operation. Citing the recent fatal accident involving a car with Autopilot engaged, Consumer Reports labels the feature as "Too Much Autonomy Too Soon." In an extensive article posted at the top of its website Thursday morning, Consumer Reports said Tesla should "disable hands-free operation until its system can be made safer." "By marketing their feature as 'Autopilot,' Tesla gives consumers a false sense of security," said Laura MacCleery, vice president of consumer policy and mobilization for Consumer Reports, in the article. "In the long run, advanced active safety technologies in vehicles could make our roads safer. But today, we're deeply concerned that consumers are being sold a pile of promises about unproven technology. 'Autopilot' can't actually drive the car, yet it allows consumers to have their hands off the steering wheel for minutes at a time. Tesla should disable automatic steering in its cars until it updates the program to verify that the driver's hands are on the wheel."
Tesla says it will continue development of Autopilot, insisting that drivers supported by Autopilot "remain safer than those operating without assistance." -
Second Tesla Autopilot Crash Under Review By US Regulators (time.com)
An anonymous reader writes: The Wall Street Journal and many other publications are reporting that U.S. auto-safety regulators are currently reviewing a second crash that occurred while Tesla's Autopilot mode was activated. The Detroit Free Press reports that a Michigan art gallery owner told police that he survived a rollover crash that happened when his Tesla Model X was in self-driving mode last Friday. The newspaper didn't disclose any additional details regarding what led up to the accident and whether or not the driver was to blame. Last week, it was reported that U.S. regulators were investigating Tesla after a fatal crash occurred involving a vehicle using the Autopilot mode. Tesla said in a statement after that incident, "This is the first known fatality in just over 130 million miles where Autopilot was activated." They also said Autopilot "is an assist feature that requires you to keep your hands on the steering wheel at all times." -
Elon Musk's Tesla Plans To Acquire Elon Musk's SolarCity For $2.7B In Stock (techcrunch.com)
An anonymous reader writes from a report via TechCrunch: Today, Elon Musk's electric car and battery company Tesla has announced its offer to buy solar panel installation company SolarCity. Now is a better time than ever to acquire SolarCity, as it recently had its value downgraded. If Tesla does acquire SolarCity, the companies could allow you to outfit your home with solar panels that power a giant battery for your various appliances, such as an electric vehicle. The deal, which has yet to be approved by SolarCity and its board, involves SolarCity's stock being exchanged for Tesla stock. TechCrunch reports that "the deal would pay a premium of 21% to 30% on top of SolarCity's value of $2.14 billion, so Tesla would be buying SolarCity for between $2.59 billion and $2.78 billion worth of its stock." The Tesla team writes, "It's now time to complete the picture. Tesla customers can drive clean cars and they can use our battery packs to help consume energy more efficiently, but they still need access to the most sustainable energy source that's available: the sun." Elon Musk has also been in the news today through OpenAI, the artificial-intelligence non-profit backed by Elon Musk, Amazon Web Services and others. OpenAI announced it is working on creating a physical robot that performs household chores. -
Elon Musk Announces $35,000 Tesla Model 3 Electric Car
Elon Musk has officially unveiled the Tesla Model 3 electric car at the company's facility in Hawthorne, California. The Model 3 is being dubbed as a "mass market affordable car." The base-model Model 3 will be able to travel 0-60MPH in less than 6 seconds, with "versions of the Model 3 that go much faster." In terms of range, it features an EPA range of at least 215 miles per charge. All Model 3's will come standard with autopilot hardware and autopilot safety features. The Model 3 will also fit five adults comfortably, thanks largely in part to the large, rear piece of glass on the roof area. You'll find front and rear trunks, offering more cargo capacity than any cargo gas car with the same external dimensions. Safety is a big concern for Tesla so they've manufactured the Model 3 with a 5 star safety rating in every category. The Model 3 starts at $35,000 with a release date scheduled for 2017. Tesla will take your preorder now for a $1,000 down payment. -
Tesla: Journalists Trespassed At Gigafactory, Assaulted Employees (teslamotors.com)
An anonymous reader writes: Telsa Motors has published a blog post saying that a pair of journalists from the Reno Gazette Journal trespassed on the grounds of the company's new Gigafactory and attacked security workers with their vehicle when confronted. "As the Tesla employee attempted to record the license plate number on the rear bumper, the driver put it in reverse and accelerated into the Tesla employee, knocking him over, causing him to sustain a blow to the left hip, an approximate 2" bleeding laceration to his right forearm, a 3" bleeding laceration to his upper arm, and scrapes on both palms." Officials from the Sheriff's Department arrived shortly after this happened and arrested one of the trespassers for felony assault. The RGJ has a story about the altercation as well, confirming there was an altercation, but also noting, "The newspaper's vehicle was damaged in the altercation. A rock had been used to shatter the driver's-side window and the driver's-side seat belt had been cut in half." -
Tesla Unveils the Model X
An anonymous reader writes with news that Tesla has officially unveiled its Model X SUV. It's their third vehicle, after the Roadster and Model S. Its 90kWh battery provides 250 miles of range, and the vehicle can go from zero to 60 mph in 3.2 seconds. According to Reuters, the high-end versions of the Model X will cost between $132,000 and $144,000, while the base model's pricing is not yet known. The vehicle's doors open upward, and it can have seating for either six or seven passengers, depending on layout. The back row of seats can fold down when not in use. The Model X has automatic emergency braking, a 5,000 pound towing capacity, and a so-called "bioweapon defense mode" for its air circulation system that keeps positive pressure within the cabin. -
Elon Musk Predicts 1,000km EV Range In Two Years, Autonomous Cars In Three
An anonymous reader writes: Speaking with a Danish TV show, Tesla and SpaceX CEO Elon Musk made a couple of interesting statements about Tesla's future. The company's Model S sedan advertises a range of 200-300 miles (322-483 km) depending on variant, average speed, and tires. Musk says the company will produce an electric vehicle capable of breaking the 1,000km (621 mi) mark by "2017 for sure." Later, Musk went even further, saying he expected "full autonomy" for Tesla vehicles to arrive in "approximately three years." He doesn't expect them to be legal at that point, as regulations will take time to catch up. -
Are We Reaching the Electric Car Tipping Point?
HughPickens.com writes: Geoff Ralston has an interesting essay explaining why it is likely that electric car penetration in the U.S. will take off at an exponential rate over the next 5-10 years rendering laughable the paltry predictions of future electric car sales being made today. Present projections assume that electric car sales will slowly increase as the technology gets marginally better, and as more and more customers choose to forsake a better product (the gasoline car) for a worse, yet "greener" version. According to Ralston this view of the future is, simply, wrong. — electric cars will take over our roads because consumers will demand them. "Electric cars will be better than any alternative, including the loud, inconvenient, gas-powered jalopy," says Ralston. "The Tesla Model S has demonstrated that a well made, well designed electric car is far superior to anything else on the road. This has changed everything."
The Tesla Model S has sold so well because, compared to old-fashioned gasoline cars it is more fun to drive, quieter, always "full" every morning, more roomy, and it continuously gets better with automatic updates and software improvements. According to Ralston the tipping point will come when gas stations, not a massively profitable business, start to go out of business as many more electric cars are sold, making gasoline powered vehicles even more inconvenient. When that happens even more gasoline car owners will be convinced to switch. Rapidly a tipping point will be reached, at which point finding a convenient gas station will be nearly impossible and owning a gasoline powered car will positively suck. "Elon Musk has ushered in the age of the electric car, and whether or not it, too, was inevitable, it has certainly begun," concludes Ralston. "The future of automotive transportation is an electric one and you can expect that future to be here soon." -
Tesla Announces Home Battery System
An anonymous reader writes: Early this morning, Elon Musk finally revealed Tesla's plans for the home: battery systems designed to store up to 10 kWh of power. The company is leveraging the battery technology they've developed for their electric cars to enable more people to switch to renewable power for their homes. There will be two models of the battery. The 10 kWh version will cost $3,500, and the 7 kWh version will cost $3,000. They can deliver power at a continuous rate of 2kW, with peaks up to 3 kW. Crucially, the batteries will be warrantied for 10 years. Musk thinks the market for home batteries will expand to at least two billion, eventually. But even a much smaller uptake for now will validate the creation of Tesla's "gigafactory."
"The gigafactory is the recipient of the largest incentive package ever given by Nevada at $1.3 billion, which followed a hotly contested tax incentive bidding war between various states to land the Tesla battery plant. For the investment to pay off, Tesla needs to convince hundreds of thousands of consumers per year to buy its cars and battery products, with the gigafactory serving as a cornerstone to the company's sales strategy. ... An early gigafactory rendering released by Tesla stated that the plant will have an annual battery pack output of 50 gigawatt hours — the bulk of which will go toward batteries for cars with most of the remainder to be allocated for stationary batteries, according to figures mentioned by Tesla's chief technology JB Straubel last year. The gigafactory's sheer scope makes other battery products a possibility as well." -
Tesla's April Fool's Joke Spoofs Market Algorithms
Okian Warrior writes Yesterday, Tesla's twitter feed and blog announced the new "W" Model. Meaning "Watch" (as in "wristwatch"), the announcement Included a photo of a watch spouting a cumbersome "Big Ben" glued to the face and including this text: "This incredible new device from Tesla doesn't just tell the time, it also tells the date. What's more, it is infinitely adjustable, able to tell the time no matter where you are on Earth. Japan, Timbuktu, California, anywhere! This will change your life. Reality as you know it will never be the same." Clearly, this was an April fool's joke as anyone who reads more than just the headline would immediately guess. The problem is that Bloomberg's fast response team did not. The algos, on massive volume, spiked TSLA stock higher by nearly 1%. -
Tesla's April Fool's Joke Spoofs Market Algorithms
Okian Warrior writes Yesterday, Tesla's twitter feed and blog announced the new "W" Model. Meaning "Watch" (as in "wristwatch"), the announcement Included a photo of a watch spouting a cumbersome "Big Ben" glued to the face and including this text: "This incredible new device from Tesla doesn't just tell the time, it also tells the date. What's more, it is infinitely adjustable, able to tell the time no matter where you are on Earth. Japan, Timbuktu, California, anywhere! This will change your life. Reality as you know it will never be the same." Clearly, this was an April fool's joke as anyone who reads more than just the headline would immediately guess. The problem is that Bloomberg's fast response team did not. The algos, on massive volume, spiked TSLA stock higher by nearly 1%. -
Elon Musk Pledges To End "Range Anxiety" For Tesla Model S
An anonymous reader writes: Elon Musk has used his Twitter account to announce a press conference on Thursday which he claims will end "range anxiety" for Tesla's Model S sedan. Whatever change they're making will be implemented through an over-the-air software update to the cars, affecting the entire fleet. Range anxiety is the term for a fear that your vehicle won't have enough fuel/charge to reach its destination. It's a common reason for people to avoid buying electric cars, given the much smaller infrastructure build-out compared to gas stations. If Tesla is improving the Model S's range through a software update, then it likely involves optimizations to the battery and to the ways in which power is used. Tesla has also talked about developing a feature called "torque sleep," which puts one of the drive units to sleep while not needed. They say it can wake up and begin delivering torque again "so fast that the driver can't perceive it." -
Tesla Roadster Update Extends Range
mrflash818 sends word that Tesla Motors has announced an upgrade for their Roadster vehicles that boosts the range from about 240 miles to almost 400. In addition to the battery improvements made since the Roadster launched in 2008, Tesla has a kit to retrofit the body to reduce its drag coefficient from 0.36 to 0.31. They also have new tires, which improve the rolling resistance coefficient by about 20%. They say, "Combining all of these improvements we can achieve a predicted 40-50% improvement on range between the original Roadster and Roadster 3.0. There is a set of speeds and driving conditions where we can confidently drive the Roadster 3.0 over 400 miles. We will be demonstrating this in the real world during a non-stop drive from San Francisco to Los Angeles in the early weeks of 2015." Tesla stopped producing the Roadster in 2012. -
Tesla Announces Dual Motors, 'Autopilot' For the Model S
SchrodingerZ writes: Nine days after Elon Musk hinted about a new project, Tesla Motors has unveiled the P85D Sedan. This is Tesla's latest car design, capable of feats not yet seen in electric vehicles. The four door luxury car is able to go from zero to 60 miles per hour in a mere 3.2 seconds, an acceleration similar to the McLaren F1 super car. While the exterior remains the same build as the standard Model S, the interior will have a second motor in the front of the car to complement the rear motor. The D models will also have a slightly greater range of 275 miles on a single charge, 10 miles more than the 85 and P85 cars. Safety features have also been enhanced, adding "adaptive cruise control and the ability to read speed limit signs, stop itself if a crash is imminent, stay in its lane, and even park itself in a street spot or in your garage." Musk explains at the inaugural event, "this car is nuts. It's like taking off from a carrier deck. It's just bananas." The "D" version is available for the 60kWh, 80kWh, and P85 cars, and are expected to start shipping in December of this year. -
Tesla Announces Dual Motors, 'Autopilot' For the Model S
SchrodingerZ writes: Nine days after Elon Musk hinted about a new project, Tesla Motors has unveiled the P85D Sedan. This is Tesla's latest car design, capable of feats not yet seen in electric vehicles. The four door luxury car is able to go from zero to 60 miles per hour in a mere 3.2 seconds, an acceleration similar to the McLaren F1 super car. While the exterior remains the same build as the standard Model S, the interior will have a second motor in the front of the car to complement the rear motor. The D models will also have a slightly greater range of 275 miles on a single charge, 10 miles more than the 85 and P85 cars. Safety features have also been enhanced, adding "adaptive cruise control and the ability to read speed limit signs, stop itself if a crash is imminent, stay in its lane, and even park itself in a street spot or in your garage." Musk explains at the inaugural event, "this car is nuts. It's like taking off from a carrier deck. It's just bananas." The "D" version is available for the 60kWh, 80kWh, and P85 cars, and are expected to start shipping in December of this year. -
Tesla Removes Mileage Limits On Drive Unit Warranty Program
Ars Technica reports that Elon Musk today wrote that Tesla will remove mileage limits on its warranty policy for all Tesla Model S drive units. The warranty, which will still span eight years, won't have a cap on the number of owners for each vehicle. People who purchased Teslas before today were told that the warranty period for the drive unit expired after eight years or once the car logged over 125,000 miles. The revised warranty applies to new vehicles and Model S cars that are already on the road. The article mentions that quite a few Tesla owners have had to have their drive units replaced; out of warranty, that runs about $15,000. Musk's announcement acknowledges that the change may cost the company some money, but says he's "confident it will work out well in the long run." -
Tesla Releases Electric Car Patents To the Public
mknewman (557587) writes with a welcome followup to the broad hints that Tesla might release some of its patents for others to use patents that it has amassed. Now, Elon Musk writes on the company's blog: Yesterday, there was a wall of Tesla patents in the lobby of our Palo Alto headquarters. That is no longer the case. They have been removed, in the spirit of the open source movement, for the advancement of electric vehicle technology. Tesla Motors was created to accelerate the advent of sustainable transport. If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal. Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology. -
Elon Musk Addresses New Jersey's Tesla Store Ban
An anonymous reader writes "On Tuesday, we discussed news that New Jersey is trying to ban Tesla stores, which would force the company to sell through car dealerships instead. Now, Elon Musk has prepared a response: 'The reason that we did not choose to do this is that the auto dealers have a fundamental conflict of interest between promoting gasoline cars, which constitute virtually all of their revenue, and electric cars, which constitute virtually none. Moreover, it is much harder to sell a new technology car from a new company when people are so used to the old. Inevitably, they revert to selling what's easy and it is game over for the new company. The evidence is clear: when has an American startup auto company ever succeeded by selling through auto dealers? The last successful American car company was Chrysler, which was founded almost a century ago, and even they went bankrupt a few years ago, along with General Motors. Since the founding of Chrysler, there have been dozens of failures, Tucker and DeLorean being simply the most well-known. In recent years, electric car startups, such as Fisker, Coda, and many others, attempted to use auto dealers and all failed.'" -
Tesla Model S Battery Drain Issue Fixed
cartechboy writes "Does the Tesla Model S suck down power even when the car is switched off? Recently, a tweet to Elon Musk with an article saying so sparked the Tesla CEO's attention. He tweeted that it wasn't right and that he'd look into the situation. Then a few hours later, he tweeted that the issue had to do with a bad 12-volt battery. Turns out Tesla had already called the owner of the affected car and sent a service tech to his house to replace that battery — and also install a newer build of the car's software. Now it appears the 'Vampire Draw' has been slain. The car went from using 4.5 kWh per day while turned off to a mere 1.1 kWh. So, it seems to be solved, but Tesla may either need to fix some software, or start sending a few new 12-volt batteries out to the folks still experiencing the issue." -
Tesla Model S Has Bizarre 'Vampire-Like' Thirst For Electricity At Night
cartechboy writes "The Tesla Model S, for all its technical and design wizardry, has a dirty little secret: Its a vampire. The car has an odd and substantial appetite for kilowatt-hours even when turned off and parked. This phenomenon has been dubbed the 'vampire' draw, and Tesla promised long ago to fix this issue with a software update. Well, a few software updates have come and gone since then, and the Model S is still a vampire sucking down energy when it's shut down. While this is a concern for many Model S owners and would be owners, the larger question becomes: After nine months, and multiple software updates,why can't Tesla fix this known issue? Tesla has recognized the issue and said a fix would come, yet the latest fix is only a tiny improvement — and the problem remains unsolved. Is Tesla stumped? Can the issue be fixed?" -
Musk Lashes Back Over Tesla Fire Controversy
Nerval's Lobster writes "A small handful of Tesla electric cars have caught fire, driving down the company's stock price, and finally prompting CEO Elon Musk to tackle the issue in a new blog posting. 'Since the Model S went into production last year, there have been more than a quarter million gasoline car fires in the United States alone, resulting in over 400 deaths and approximately 1,200 serious injuries (extrapolating 2012 NFPA data),' he wrote in that posting. 'However, the three Model S fires, which only occurred after very high-speed collisions and caused no serious injuries or deaths, received more national headlines than all 250,000+ gasoline fires combined.' Responsible journalism on the matter, he added, has been 'drowned out' by 'an onslaught of popular and financial media seeking to make a sensation out of something that a simple Google search would reveal to be false.' According to his own figures, Tesla suffers an average of one fire per 6,333 cars, versus a rate of one fire per 1,350 gasoline-powered cars. Every Tesla vehicle includes internal walls between the battery modules, in addition to a firewall between the battery pack and the passenger compartment — enough shielding, in the event of a fire, to prevent pens and papers in the glove compartment from combusting. 'Despite multiple high-speed accidents, there have been no deaths or serious injuries in a Model S of any kind ever,' Musk continued. 'Of course, at some point, the law of large numbers dictates that this, too, will change, but the record is long enough already for us to be extremely proud of this achievement.' Tesla is about to push an 'over-the-air update' to its vehicles' air suspension that will create more ground clearance at highway speeds. In theory, that could reduce the chances of impact damage to the underbody, should the vehicle roll over an object — and that, in turn, could lower the chances of fire." -
Owner of Battery Fire Tesla Vehicle: Car 'Performed Very Well, Will Buy Again'
cartechboy writes "The Tesla Model S fire that, to date, is either electric car Armageddon or 'no big deal' has been fun Internet theatre combined with a dose of crowd-sourced battery-pack pseudo-expertise. Now the actual car owner (and Tesla investor) weighs in with his take, which is, basically, 'nothing to see here and yes, I can't wait to get back into a Tesla.' Owner Robert Carlson wrote an email in response to contact by Tesla's vice president of sales and service, Jerome Guillen, saying he found the car had 'performed very well under such an extreme test. The batteries went through a controlled burn which the Internet images really exaggerates.' Carlson had no comment on the guy who videoed his car fire, who is now Internet infamous for shooting video in portrait mode." You can read Elon Musk's take, along with Carlson's correspondence. -
For Overstated Claims, Gore, Tesla Upbraided By NWS, NHTSA Respectively
barlevg writes "In a recent interview, former Vice President and environmental activist Al Gore made a bold claim, that man-made global warming was causing hurricanes to be formed of such severity that 'they're adding a 6' to the hurricane scale, going on to say that 'The fingerprint of man-made global warming is all over these storms and extreme weather events.' In response, the National Weather Service has responded that they have no plans to add a 'doomsday Category 6' to their rating scale: 'No, we're not pursuing any such change. I'm also not sure who VP Gore means by "they,"' also noting that 'Category 5 has no ceiling: it includes hurricanes with top sustained winds of 157 mph and higher.' Furthermore, a recently leaked United Nations climate assessment claims only 'low confidence' of a link between human activity and increased hurricane severity and that this is likely due to increased human settlement in coastal areas and other regions vulnerable to natural disasters." Along similar lines, the National Highway Traffic Safety Administration says that Tesla's Model S, no matter how safe it is, doesn't get any special grade inflation: there's no "5.4" score (as the company did in a press release this week), because that's just not how the NHTSA keeps score. (Hat tip to reader cartechboy.) -
Elon Musk's 'Hyperloop': More Details Revealed
astroengine writes "Entrepreneur Elon Musk revealed details today about his concept for a high-speed transportation system he calls the Hyperloop. After tweeting that he'd pulled an all-nighter preparing for the announcement, Musk told Businessweek that the design could transport people as well as cars inside aluminum pods that move up to 800 miles per hour through a tube. The tubes would be mounted on columns 50 to 100 yards apart, not interfering with land needs because it would essentially follow major highways, such as I-75 in California." -
Tesla To Build Its Own Battery-Swap Stations
New submitter lfp98 writes "Just a month after the collapse of independent battery-swap company Better Place, the uniquely successful maker of luxury electric cars, Tesla, has announced it will provide its own battery-swap capability for its Model S sedans. The first stations will be built adjacent to Tesla's charging stations on the SF-to-LA route, and a swap will take no longer than filling a gas tank. From the article: 'A battery pack swap will cost between $60 and $80, about the same as filling up a 15-gallon gas tank,' Musk said. 'Drivers who choose to swap must reclaim their original battery on their return trip or pay the difference in cost for the new pack.'" -
Tesla Motors Repays $465M Government Loan 9 Years Early
Tesla Motors announced today it has completely repaid the $465 million loan from the U.S. Department of Energy the company received in 2010. The funds were generated by Tesla through a recent sale of their stock, worth close to a billion dollars. The stock price had risen sharply after the company reported its first profitable quarter (and the stock still sits roughly 50% higher than before their earnings release). Today's payment of $451.8 million finished off both the loan's principal and its interest, nine years before the final payment was due. Tesla CEO Elon Musk said, 'I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate. I hope we did you proud.' -
Let Them Eat Teslas
theodp writes "If you're a bright kid who wants to prepare for the 21st century workforce (PDF) by studying engineering at Purdue, the government will help your parents pay the $100,000 or so tuition tab with a 7.9% interest loan (plus 4% fees) that's likely to be non-dischargeable in bankruptcy and paid back with after-tax money. If, on the other hand, you want to buy a tricked-out $100,000 Model S, Tesla has teamed up with the government, Wells Fargo, and U.S. Bank on what it calls a 'Revolutionary New Finance Product' that enables those who play the game right to avoid paying sales tax, get the government to pick up the first $15,000 (no down payment needed!), and also receive a 2.95% bankruptcy-dischargeable loan for the balance, the payments for which could be tax-deductible. Yep, 'Revolutionary' may be about right!" -
Let Them Eat Teslas
theodp writes "If you're a bright kid who wants to prepare for the 21st century workforce (PDF) by studying engineering at Purdue, the government will help your parents pay the $100,000 or so tuition tab with a 7.9% interest loan (plus 4% fees) that's likely to be non-dischargeable in bankruptcy and paid back with after-tax money. If, on the other hand, you want to buy a tricked-out $100,000 Model S, Tesla has teamed up with the government, Wells Fargo, and U.S. Bank on what it calls a 'Revolutionary New Finance Product' that enables those who play the game right to avoid paying sales tax, get the government to pick up the first $15,000 (no down payment needed!), and also receive a 2.95% bankruptcy-dischargeable loan for the balance, the payments for which could be tax-deductible. Yep, 'Revolutionary' may be about right!" -
Let Them Eat Teslas
theodp writes "If you're a bright kid who wants to prepare for the 21st century workforce (PDF) by studying engineering at Purdue, the government will help your parents pay the $100,000 or so tuition tab with a 7.9% interest loan (plus 4% fees) that's likely to be non-dischargeable in bankruptcy and paid back with after-tax money. If, on the other hand, you want to buy a tricked-out $100,000 Model S, Tesla has teamed up with the government, Wells Fargo, and U.S. Bank on what it calls a 'Revolutionary New Finance Product' that enables those who play the game right to avoid paying sales tax, get the government to pick up the first $15,000 (no down payment needed!), and also receive a 2.95% bankruptcy-dischargeable loan for the balance, the payments for which could be tax-deductible. Yep, 'Revolutionary' may be about right!" -
Tesla Motors To Pay Off Government Loan 5 Years Early
fredan sends word of a post at the Tesla Motors blog detailing how the company will be paying off its $465 million government loan 5 years early. Quoting: "This is a significant announcement both for Tesla and for the DOE. It is a marker of the successful launch of the Model S and the incredible market reaction to this award-winning car. And it is a tribute to the success of the DOE's Advanced Technology Vehicle Manufacturing Program (ATVM), a program which was chartered by Congress and signed into law by President George W. Bush, to accelerate the market for a broad range of promising automotive efficiency technologies — electric vehicles (EVs) principal among them. ... Following more than a year of thorough due diligence by commercial auditors, automotive consultants and lawyers, on January 20, 2010, Tesla became the recipient of one of three initial DOE loans announced by Secretary Chu, along with Ford and Nissan – good company for a start-up automaker. Tesla’s loan of $465 million was to be paid back over ten years following the start of production of the Model S. Months later in a separate announcement, an ATVM loan was announced for Fisker. It is worth noting that in comparison with these three other recipients, Tesla had the smallest loan. Ford’s loan was for $5.9 billion, Nissan’s was for $1.4 billion, and Fisker’s was for $529 million. ... We expect to generate sufficient cash and profitability in our business over the next five years that it gives us confidence to proceed with this early repayment of the loan. Moreover, it is also consistent with Tesla’s mantra of speed that we would, as Elon announced last week, accelerate the repayment of our loan, a full five years earlier than required under the original loan terms, making our last payment in 2017." -
Elon Musk Lays Out His Evidence That NYT Tesla Test Drive Was Staged
mykepredko writes "Tesla Motors CEO and founder Elon Musk definitely isn't the best guy to try to pull a fast one on. The visionary entrepreneur set Twitter a titter when he claimed earlier this week that New York Times writer John Broder had fudged details about the Tesla Models S car's range in cold weather, resulting in what he termed a 'fake' article. Musk promised evidence, and now he has delivered, via the official Tesla blog." -
A Honda Civic With no Gas Tank (Video)
It took Dr. Adam Blankespoor two years and $14,000 to convert his 1996 Honda Civic into an all-electric plug-in vehicle. He's an automotive engineer and researcher, but if he can do it, you can probably follow in his footsteps and create your own electric vehicle if you are so inclined. He talks about a 45 mile range, with 30 miles as a practical limit. That's not competitive with the Tesla S, but there's also a massive price difference to consider. This is another person Slashdot met at the Ann Arbor Maker Faire. If you want to see what kinds of electric vehicles other have made, possibly for inspiration, the Electric Vehicle Photo Album is a good place to start. And if you want information on how to build your own electric car, using "electric car conversion" as your Google search term will put you on the track of more electric car information than you can shake a Tesla Coil at. -
See the Tesla S at the Detroit International Auto Show (Video)
The weather in Detroit was frightful and Slashdot editor Timothy Lord was nine hours away. No problem! He loaded his camcorder and a bunch of other stuff in his car and drove to Detroit for the 2012 International Auto Show. In today's video he looks at the Tesla Model S. Next week we'll have more video highlights of the auto show for you, so stay tuned... -
Tesla Motors Announces Prices For Their Upcoming Models
Shivetya writes with a list of prices for upcoming models from Tesla, noting that "they aren't cheap and the prices are listed assuming the $7500 tax credit. A 160-mile range S will set you back $49,900, the 230-mile is at $59,000, and the 300-mile range S will cost $69,000. Battery sizes are 40, 60, and 85kwh respectively. For your money these cars also include a very large seventeen-inch touchscreen. Is this the electric car you've been waiting for or another rich person's toy?" -
New Video of Tesla's Mass-Market Electric Car
Slatterz writes "The Tesla Roadster has almost mythical status among electric car enthusiasts. It's fast, with high torque over a wide RPM range, and can beat a Ferrari in terms of acceleration. Now Tesla has released new video of its upcoming new electric car, called the Model S, which Tesla Motors claims is the world's first mass produced fully-electric vehicle. Unlike the Lotus-Elise based Roadster, the Model S is a traditional sedan of the type millions of commuters might actually drive. Tesla claims it will fit seven people (if two of them are 'children under 10'), and has mounted a rather large 17in LCD in the dash. Key to Telsa's future will be the evolution of lithium-ion battery technology. Tesla Motors claiming the new Model S can travel up to 300 miles on a single charge, but the battery will still take 45 minutes to quick-recharge." (And for those in countries where it matters, this article mentions that it should also be available in right-hand drive.) -
Tesla Nabs $465M Government Loan To Build Model S
SignalFreq writes "Tesla Motors, based in San Carlos, California, was approved yesterday for $465M in loans from the Department of Energy's Advanced Technology Vehicles Manufacturing program. Tesla plans to use $365M of the money to finance a manufacturing facility for the Model S (review, Letterman video) and $100M for a powertrain manufacturing plant in the SF Bay Area. 'Tesla will use the ATVM loan precisely the way that Congress intended — as the capital needed to build sustainable transport,' said Tesla CEO and Product Architect Elon Musk. Tesla expects the Model S to ship in late 2011 and the base cost to be $57,400 ($49,900 after a federal tax credit). Ford received $5.9B and Nissan received $1.6B under the same program." -
Tesla Nabs $465M Government Loan To Build Model S
SignalFreq writes "Tesla Motors, based in San Carlos, California, was approved yesterday for $465M in loans from the Department of Energy's Advanced Technology Vehicles Manufacturing program. Tesla plans to use $365M of the money to finance a manufacturing facility for the Model S (review, Letterman video) and $100M for a powertrain manufacturing plant in the SF Bay Area. 'Tesla will use the ATVM loan precisely the way that Congress intended — as the capital needed to build sustainable transport,' said Tesla CEO and Product Architect Elon Musk. Tesla expects the Model S to ship in late 2011 and the base cost to be $57,400 ($49,900 after a federal tax credit). Ford received $5.9B and Nissan received $1.6B under the same program." -
Tesla Nabs $465M Government Loan To Build Model S
SignalFreq writes "Tesla Motors, based in San Carlos, California, was approved yesterday for $465M in loans from the Department of Energy's Advanced Technology Vehicles Manufacturing program. Tesla plans to use $365M of the money to finance a manufacturing facility for the Model S (review, Letterman video) and $100M for a powertrain manufacturing plant in the SF Bay Area. 'Tesla will use the ATVM loan precisely the way that Congress intended — as the capital needed to build sustainable transport,' said Tesla CEO and Product Architect Elon Musk. Tesla expects the Model S to ship in late 2011 and the base cost to be $57,400 ($49,900 after a federal tax credit). Ford received $5.9B and Nissan received $1.6B under the same program." -
Tesla Motors Is Delivering Cars
jamie found the news that Tesla Motors is delivering roadsters in California. (We've been following developments on the Tesla front for a couple of years now.) According to a letter from the CEO, "9 production Roadsters have arrived in California, another 3 arrive this weekend, and they will keep arriving at the rate of 4 per week... In fact, currently there are 27 Roadsters in various stages of assembly." The early owners must be proud, but there could be complications. -
GM Working on Feasible Electric Car
WindBourne writes "While Ford wants to simply offer cosmetic changes to automobiles interiors and exteriors, General Motors has finally gotten the message about electric autos. They are about to introduce the Chevy Volt, a plug-in hybrid which gets 40 Miles on a charge, but has a generator that can keep the auto going up to 640 miles range. From a styling POV, it is not a tesla, but it is also not a focus or a pinto. From the Rocky article: 'GM did not release cost estimates but said they recognize the Volt's price will have to be competitive. Company Vice Chairman Robert Lutz said in a statement that more than half of Americans live less than 20 miles from their workplace and could go to work and back on a single charge.'"