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Tesla curbs forecast due to Model S issues, losses total $864.9M

It ain't easy creating a brand-new automaker from scratch. The fact that Elon Musk and Tesla have actually been able to bring not one, but two cars to market is in itself quite impressive. That said, the road has not been without its bumps, and Tesla is feeling some of the setbacks that come with being a fledgling automaker.
To that end, Tesla has revealed that it expects $400 million to $440 million in full-year revenue, or roughly $160 million less than its prior 2012 revenue forecasts. In a Securities and Exchange Commission filing on Monday, the electric carmaker said "We have methodically increased our Model S production at a slower rate than we had earlier anticipated," leading to the company figuring they'll fall short of the $560 million to $600 million they originally forecasted. Tesla also revealed a net cumulative loss of $864.9 million through June 30 of this year - Tesla has yet to break even as an automaking entity, but it remains something of a startup, so the fact that it has lost money to this point shouldn't be a major surprise - building cars is expensive, and learning how to do so is even more expensive. Following the disclosure, Tesla shares fell about 8.5 percent this morning in trading.
Tesla cites delays in suppliers for its Model S production shortcomings. The California automaker says it is working with suppliers to speed up deliveries and internally, it is adding shifts and automation to its manufacturing processes. With little more than half of the 5,000-vehicle target expected to be built by year's end, Tesla says it is four to five weeks behind its delivery goals.

Bosch, Daimler say Tesla's Supercharger strategy a disservice to EVs

Here's a classic pot-kettle-black story. Daimler, which has a partnership with Tesla, is calling the EV automaker out for its Supercharger stations that - at this point - only work with Tesla vehicles. Daimler, along with supplier Bosch, is saying that there should be compatible standards in the EV industry. Tesla has big plans to install Supercharger throughout Germany (and Europe), but Daimler isn't singing praises. Daimler's research and design chief, Thomas Weber told Automobilwoche that, "The future [of an electric charging infrastructure] lies in standardization. As with gas stations, we need a charging system for all manufacturers, not least because it reduces the cost of the infrastructure, but it is also more convenient for customers." That's true as far as it goes. The irony here, of course, is that Daimler and its partners chose to develop a new DC fast charging system, the SAE Combo system, despite the fact that another standard (CHAdeMO) was already widely available. The SAE Combo team said when the technology was unveiled that it, "will optimize customer ease of use and will accelerate more affordable deployment of electrified vehicles and charging infrastructure," even though there are thousands of CHAdeMO stations in operation today and only a handful of SAE units.

UAW sets up organizing committee at Tesla's Fremont factory

Tesla is happy to do things differently than other automakers, from the company-owned stores to the all-electric drivetrain. It also doesn't use union workers at its factory in Fremont, California (the former NUMMI plant, pictured). But now the United Auto Workers (UAW) is testing the waters for representation at the plant, according to a report in the San Francisco Chronicle. UAW President Bob King has revealed that the UAW has created an organizing committee in Fremont. How this would change things at Tesla – and whether it would be a good or bad thing – is not really known, but it would certainly make the EV company more like the Big Three in this one aspect. We heard rumblings of unions at Tesla in 2010, when Toyota and Tesla announced they were going to collaborate on developing EVs. At that time, the United Auto Workers said it wanted union workers back at the plant, especially some of the 4,500 who ended up unemployed after the General Motors/Toyota partnership that built cars at NUMMI was shut down. That didn't happen, but Tesla has called unionization a 'risk' to business in a financial report. Tesla CEO Elon Musk at least has a plan for running his shop both with and without a union. As he told Wired in 2009, "Most of our experienced factory workers come from unionized environments, and we asked them what benefit did they see in unions. They said, 'Well, if their boss was an asshole, they had recourse.' I said, 'Let's make a rule: There will be no assholes.' I fired someone for being an asshole. And I only had to do that once, actually." Tesla declined comment to AutoblogGreen about the new union rumblings, but when we spoke with Musk in 2012, he described the longer-than-average work hours: Right now we're working six days a week. Some people are working seven days a week – I do – but for a lot of people, working seven days a week is not sustainable. The factory is operational seven days a week but most people we only ask to work six days a week right now and, obviously, we want to get that to a more reasonable number. I think people can sustain a 50-hour work week. I think that's a good work week. If you're joining Tesla, you're joining a company to work hard. We're not trying to sell you a bill of goods. If you can go work for another company and then maybe you can work a 40-hour work week. But if you work for Tesla, the minimum is really a 50-hour week and there are times when it'll be 60- to 80-hour weeks.