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Tesla announces 'infinite mile warranty' for Model S EV drive unit

Tesla Motors has a way with words. From Superchargers to 'auto pilot,' Tesla likes to set itself apart by calling things other things. What, fast charging and autonomous drive not good enough for ya? The same thing just happened with the announcement of a new 'infinite mile warranty' for the drive unit. That's infinite, not unlimited, but whatever it's called, the new policy lifts the warranty mileage cap on the 85-kWh version of the Model S that had previously been set at four years and 50,000 miles. The new rules say that the drive unit will have the same 'limits' as the battery pack, which means as many miles as you can put on the car in eight years. Tesla will also honor the warranty no matter how many people have owned the car and is applying the warranty retroactively, so feel safe buying that used 2012 Model S until 2019 if you still want some warranty coverage. "If we truly believe that electric motors are fundamentally more reliable than gasoline engines ... then our warranty policy should reflect that." – Elon Musk Tesla has gotten some criticism recently for quality issues in Model S EVs that have been on the road for a while now. Consumer Reports, for example, described problems with their Model S after owning it for 17 months. In the warranty change announcement blog post, Tesla CEO Elon Musk admitted that Tesla made a mistake imposing a limit in the first place. "In hindsight, this should have been our policy from the beginning of the Model S program," he said. "If we truly believe that electric motors are fundamentally more reliable than gasoline engines, with far fewer moving parts and no oily residue or combustion byproducts to gum up the works, then our warranty policy should reflect that." Now it does. Tesla is warning its investors that the short-term impact might be negative, but "by doing the right thing for Tesla vehicle owners at this early stage of our company, I am confident that it will work out well in the long term," Musk said. You can read the short announcement below. Infinite Mile Warranty The Tesla Model S drive unit warranty has been increased to match that of the battery pack. That means the 85 kWh Model S, our most popular model by far, now has an 8 year, infinite mile warranty on both the battery pack and drive unit. There is also no limit on the number of owners during the warranty period. Moreover, the warranty extension will apply retroactively to all Model S vehicles ever produced.

Tesla Model S sells 6,900 units in Q4, eyes top of the charts

Tesla Motors sold roughly 6,900 of its battery-electric Model S sedans during the last three months of 2013, making it the country's best-selling plug-in vehicle during the fourth quarter. The California-based automaker beat independent sales estimates by about 20 percent and increased its quarterly sales rate from the third quarter by about 25 percent. More notably, Tesla's fourth-quarter sales beat those of Nissan Leaf EV (6,534 units), and the Chevrolet Volt extended-range plug in (6,334). For the year, Tesla sold about 22,300 vehicles, putting it just behind the Volt's 23,094 vehicles and the Leaf's 22,610. Heck, Tesla sold more green cars last year than Honda, which moved about 20,600 battery-electric, hybrid and plug-in vehicles, combined. Investors were certainly happy with the news. Shares of TSLA were up around 16 percent in Tuesday trading, closing at $161.27. The news release was conveniently timed to change the story from the issues Tesla has regarding its wall chargers and what's believed to be their potential role in a garage fire. The National Highway Traffic Safety Administration (NHTSA) said earlier today that more than 29,000 of Tesla's wall charger adapters were being recalled. You will find Tesla's press release on Q4 sales numbers below. Tesla Revenue Expected to Exceed Guidance by 20% in Fourth Quarter Sales Driven by Superlative Safety Record and Excellent Cold Weather Performance TUESDAY, JANUARY 14, 2014 PALO ALTO, Calif. – Tesla sales in the fourth quarter of 2013 were the highest in company history by a significant margin. With almost 6,900 vehicles sold and delivered, Tesla exceeded prior guidance by approximately 20%. A higher than expected number of cars was manufactured as a result of an excellent effort by the Tesla production team and key suppliers, particularly Panasonic. The two key drivers of demand were the superlative safety record of the Model S and great performance under extremely cold conditions. Safety Record Tesla remains the only manufacturer with a perfect safety record of zero deaths or serious, permanent injuries ever. Including the Roadster, Tesla vehicles have now been on the road for almost six years in 31 countries with almost 200 million miles driven to date. Despite dozens of high speed collisions, the driver and passengers have always been protected. This is Tesla's proudest achievement.

Tesla China president steps down after fewer than 9 months on the job

In July, 2013, before Tesla had delivered its first car to China, CEO Elon Musk called the country a "wild card." A year on, that continues to be the case, with media reports all over the spectrum concerning how Tesla is doing in China. The immediate future won't be any calmer with news that Tesla China president Veronica Wu has resigned from the company, having just taken the job in April. Hers follows the sudden departure of Kingston Chang, the man she replaced; he was hired away from Bentley China in March, 2013 and left in March of this year citing personal reasons. Observers have put the latest departure down to the difficulties of Tesla's expansion efforts. In spite of widely acknowledged pent-up demand and the Model S being priced below expectations in China, the company has stumbled a few times navigating issues such as customs paperwork, on-time customer deliveries, navigation systems with local mapping and the installation of charging equipment for customers in rural areas. Speculative articles questioning the company's actual sales numbers in China inflate the narrative of a "speed bump" in the way of Tesla's ambitions. Tesla China's head of charger network development, Tom Zhu, will run the company in the interim.