Tesla Motors (NASDAQ:TSLA) Looks for Big Revenue Increase in the Coming Year
Tesla Motors is joining other companies in saying that 2011 will indeed be the first year of the electric vehicle. The Tesla company has investment from both Daimler and Toyota and is predicting a 50% rise in revenue for the year ahead as demand rises for rechargeable electric vehicles and batteries.
Tesla is looking to become the leading manufacturer of not only cars such as the Tesla Model S and the Tesla Roadster but also of drive trains and batteries that it has already agreed to supply to Daimler and Toyota.
Palo Alto based Tesla announced that loses by the company had doubled in the last quarter of last year to $51.4 million but stressed that this had been due to increased investment in the Tesla Model S which is to be the companies next all electric car to hit the market.
The $57,400 Model S will be produced in an existing factory in Fremont, California from next year. The initial target is to sell 20,000 Tesla Model S cars a year even though demand is likely to be significantly higher than that even with the high on the road costs. This low production to demand figure will certainly add exclusivity to ownership and will put a premium on the price of cars in some areas. Even more exclusive will be the Tesla Roadster which at $109,000 is more in the collector’s car bracket than your average motorist who wants to go green and save a few bucks at the same time.
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