2023 Tesla Model 3 on 2040-cars

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Tesla: Earnings still down, but rate of Model S production way up

According to its Third Quarter 2012 Shareholder Letter, Tesla "is now at over 200 cars per week or 10,000 cars per year, which is at the critical threshold needed for Tesla to generate positive operating cash flow."
That's an important milestone to be sure, but the news is actually even better; Tesla expects to ramp Model S production up to 400 cars per week (20,000 units/year) by December of 2012, and says it will deliver 2,500 to 3,000 units in the fourth quarter of 2012. That's lower than the previous target of 5,000 in 2012, but it's more an issue of delayed achievement rather than missing the mark altogether.
All of that production bodes well for the future, but as of today, the automaker has yet to earn real money. Revenue for the third quarter of 2012 was $50 million, equating to a net loss of about $110 million after expenses were tallied. The stock market likes the numbers, with TSLA shares rising 8.9 percent on Monday after the report was released.

Longtime Tesla rival Henrik Fisker exits Twitter after Musk reaches deal to buy platform

Electric vehicle pioneer and Tesla competitor Henrik Fisker exited Twitter this week after his old rival Elon Musk reached an agreement to buy the social media platform for $44 billion. Fisker, who oversees electric vehicle maker Fisker Inc., wrote on Instagram Tuesday: “I believe 100% in free speech. But I do not want my free speech to be actively managed or controlled by a competitor. And I do not want a competitor to determine how my followers experience Fisker as we grow our company.” FiskerÂ’s Twitter handle no longer exists, though his companyÂ’s Twitter feed remained active as of Tuesday with a post of Henrik Fisker test driving a vehicle. Musk did not appear to directly react to FiskerÂ’s move on Tuesday, tweeting two general messages about free speech. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fisker and Musk have long been adversaries. Tesla sued Fisker in 2008 alleging his design company stole Tesla technology and used it to develop his own vehicle. An arbitrator ruled in favor of Fisker. Henrik Fisker did design work on the Tesla Model S sedan before the car launched, when the project was known by the codename WhiteStar. In the early 2010s, FiskerÂ’s first carmaker, Fisker Automotive, was a rival to Tesla and, for a while, they were on nearly equal footing as Fisker promised to bring his attractive sedan called the Karma to market followed up by a string of sleek cars and crossovers. The company, however, had issues with its battery packs and was hit with a string of bad luck, including losing a shipment of vehicles due to fires and floods related to Hurricane Sandy in 2012. It went bankrupt in 2013. The EV landscape has changed dramatically since then, with most major automakers investing heavily in the technology and newcomers like Lucid and Rivian joining the fray. Tesla, meanwhile, took off and catapulted Musk to even greater international fame, along with his PayPal and SpaceX ventures. Henrik Fisker regrouped and founded Fisker Inc. in 2016. It went public in 2020 and is planning to launch the Ocean SUV this year. Before founding EV startups, Fisker was known as a noted sports-car designer who counts the 2005 Aston Martin V8 Vantage and 1999 BMW Z8 among his highlights. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Fisker Tesla Electric Elon Musk Twitter Henrik Fisker

2014 Corvette Stingray meets Tesla Model S in drag strip showdown

They come from two different worlds and have little in common. The Tesla Model S P85 is the sportiest version of this paradigm-punching sedan from California, while the 2014 Corvette Stingray Z51 is a performance-enhanced version of Michigan's recently-updated sports car stalwart. The West Coast car seats five adults and eats electrons like Popeye eats spinach, the Easterner has two passenger places and, surprisingly, sips gasoline like one might bourbon. An attribute they do happen to share is extreme quickness. This similarity is all the excuse Drag Times needed to set the vehicles beside each other at the Palm Beach International Raceway for a bit of mano-a-mano quarter-mile combat. Fortunately enough, cameras were rolling for each of two bouts down the blacktop and the results recorded for our edification and enlightenment. The winner? We won't spoil it for you, but let's just say it's really, really close. How close? Scroll below and watch the video for yourself. Just be warned, the results may surprise you. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.