Tesla Opens European Flagship Showroom in London

Electric sports car maker Tesla opened its first UK dealership in the heart of London at the Knightsbridge district. The 5,000 square-foot showroom on Cheval Place which is in walking distance from Harrods department store and convenient to Heathrow Airport will act as Tesla's European flagship store and will be followed by sales and service centers in Monaco, Munich and Zurich as well as four new stores in the United States.

The company said that it will begin delivering cars to European customers this summer of which the first 250 will be the Signature Edition Roadster model, priced from £94,000 on the road, but UK customers will have to wait until early 2010 for the first right-hand drive models. All in all, Tesla said that it has received 1,300 European orders for the all-electric Roadster model.

"Thanks to an abundance of discriminating drivers and progressive public policy, Tesla is already well known in Europe," said Tesla CEO Elon Musk. "We expect the London store to dramatically increase our brand identity throughout the continent, and with right hand drive models now due at the beginning of next year, the UK market will provide a solid foundation on which to build this."

Along with the Roadster, Tesla said that is also taking reservations for the four-door Model S sports saloon that is due for production in late 2011.

Lotus Elise and Exige Recall Affects Most Tesla Roadster Models

As most of you may already know, the all-electric Tesla Roadster is based on the Lotus Elise with which its shares numerous parts including the rear hub flange bolts that have been deemed defective. According to the NHTSA, on some vehicles the bolts may be under-torqued and could become loose. The two companies issued separate notifications on the matter with Tesla saying that the recall affects 345 Roadster models manufactured between March 2008 and April 22, 2009 (out of a total of 400 cars sold until May 2009) while Lotus is recalling 27 Elise and Exige vehicles built from January 14 through May 5, 2009.

Both recalls are expected to begin in June. Tesla owners may contact the company at 1-877-888-3752 while Exige and Elise drivers can call Lotus at 1-800-245-6887.

Fact of the Day: Tesla Motors Worth Half of GM's Value!

We are more than aware that this doesn't mean squat in the real world, but nevertheless it's something worth noting. Last Wednesday's announcement that Mercedes-Benz parent company Daimler AG's paid $50 million US or about €37 million to acquire a 10 percent stake in Tesla Motors, means that the value of the California-based maker of electric cars is $550 million US, or 47 percent of what General Motors is worth today based on the firm's current stock price ($1.17 billion US)! Needless to say, GM's stocks have taken a deep plunge lately as the June 1 government-imposed bankruptcy deadline looms.

"It's sort of amusing to see the valuation being half of General Motors," remarked Tesla co-founder Martin Eberhard in an interview today. "There always seems to be this huge disparity between the stock price of high-growth Silicon Valley companies and blue-chip companies that are reasonably mature."

Via: Bloomberg

Mercedes' Parent Company Daimler Acquires 10% Stake in Tesla Motors

Turns out that the yesterday's rumors were spot on as Mercedes-Benz' parent company, Daimler AG, announced today in a press conference in Stuttgart that the German firm has acquired an equity stake of nearly 10 percent of Tesla Motors. The two companies that have already sealed a deal to integrate Tesla's lithium-ion battery packs and charging electronics into the first 1,000 units of the electric Smart car, said that new partnership will allow them to work even more closely on the development of battery systems, electric drive systems and in individual vehicle projects.

As part of the deal between the two firms, Prof. Herbert Kohler, Vice President E-Drive and Future Mobility at Daimler AG, will take a seat on Tesla's board of directors.

"Our strategic partnership is an important step to accelerate the commercialization of electric drives globally," said Dr. Thomas Weber, Member of the Board of Daimler AG, responsible for Group Research and Mercedes-Benz Cars Development.

Tesla CEO Elon Musk said that the lithium-ion pouch-cell battery developed by Daimler and especially designed for automotive applications is of interest to the California-based company that recently unveiled the all-electric Model S sports sedan which is scheduled to enter the market in 2011.

"We are looking forward to a strategic cooperation in a number of areas including leveraging Daimler's engineering, production and supply chain expertise. This will accelerate bringing our Tesla Model S to production and ensure that it is a superlative vehicle on all levels," said Musk.

Mercedes-Benz Parent Company to Announce New Electric Vehicle Partner - Could it be Tesla?

In a few hours from now, Mercedes-Benz's parent company Daimler AG, will announce details on a new "strategic cooperation" for its electric car business. While the German firm did not disclose the name of its partner, rumor has it that it could be Tesla Motors as the two companies have already struck a deal for the Smart EV program which involves the outfitting of 1,000 electric Fortwos with Tesla's lithium ion battery pack and charging systems. We'll update this story as more details become available.

Tesla Gives an Upskirt of its Model S All-Electric Sports Sedan

On March 26th, 2009, Tesla will unveil a fully-working prototype of its forthcoming Model S sports saloon, but until then, Silicon Valley's famed electric carmaker decided to tease us by lifting the covers on its all-electric sedan. Evidently, there's much we can say about the car's design from this photo, but it does look promising. The Model S will enter production in 2011 and according to Tesla's chief investor Elon Musk it will go up against cars like the Lexus GS 450h hybrid, the diesel Mercedes E-class, and the Chevrolet Volt.

As a gesture of gratitude for their early support, Tesla announced that the firm's Roadster owners will receive a $10,000 discount off the price of the Model S Signature series and automatically be first in line for the sedan when it goes on sale.

Tesla Roadster Test Drive Turns into 100MPH Crash Test in France

Since there aren't many Tesla Roadsters out on the roads, whenever one of them is involved in an accident, its headline news. What makes this Tesla Roadster crash story even more intriguing is the fact that, according to the crash-happy crew over at Wreckedexotics, the man behind the wheel of the all-electric sports car was a sales director for Tesla. The man took an unnamed passenger for a demonstration drive somewhere in southern France on Wednesday, October 29th. It is reported that he was going around 100mph or 160km/h when he tried to make a turn that ended up in what you see here.

Aside from the speed factor, wet roads and poor visibility are said to have contributed to the accident. As you can from the pictures, the crash was pretty serious with the passenger being ejected from his seat upon impact. Miraculously, both managed to escape this horrid accident alive, with the sales director suffering a broken hand, some minor bruises and a lot of explaining to do while the passenger was recently released from hospital.

Source: WreckedExotics

Tesla Lifts the Skirt on 2011 Model-S All Electric Sedan

*Photo has been removed upon request - See the vehicle in the link below the article

A couple of weeks after Silicon Valley's famed electric carmaker Tesla Motors shocked us with the announcement that it's running low on cash and as a result, it had to lay off people and delay the presentation of its highly anticipated Model-S sports sedan until at least 2011, the company surprised us once again with the release of the first ever teaser shot of the four-door electric sedan. The man you see partially lifting the veil off the Model-S in the picture above is Tesla's recently hired design director Franz von Holzhausen who previously worked for Mazda North America and is considered to be responsible for the Japanese automaker's new look. -Continued

The teaser shot doesn't reveal any specific design details about the Model-S other than it will boast a carbon fiber diffuser integrated in the rear bumper. Speaking with Businessweek, Tesla's chief investor Elon Musk who recently took over as the company's CEO from Ze'ev Drori, said that the Model S will go up against cars like the Lexus GS 450h hybrid, the diesel Mercedes E-class, and the Chevrolet Volt "Our sedan will crush everything out there," Musk said.

Related Story:

• Tesla Motor Faces Economic Troubles

Via: Autoblog.com , Source: BusinessWeek

Tesla Shock: Financial Crisis brings New CEO, Layoffs and Delay of Model-S

The economic turmoil that has devastated the stock market is also battering Tesla Motors that is running dangerously low on cash. In a surprise announcement, the Silicon Valley-based firm's main investor, executive chairman and product architect (yep, all those together), Elon Musk said that he plans to take over the reigns from current CEO Ze'ev Drori who will remain on the board of directors as vice-chairman. Musk stated that in order for the company to stay afloat, there will be necessary job cuts and a delay of the production of the firm's forthcoming 4door sedan called Model-S. -Continued

"Our goal as a company is to be cash-flow positive within six to nine months. To do so, we must continue to ramp up our production rate, improve Roadster contribution margin and reduce operating expenses. At the same time, we must maintain high production quality and excellent customer service," Musk said in a statement.

The company's new CEO also decided that Tesla will focus on its two revenue producing business lines - the Roadster EV and powertrain sales to other car companies, meaning that everything else is on hold.

While Musk did not reveal the exact number of layoffs, he did announce that some headcount reduction will be done due to consolidation of operations as Tesla will move its vehicle engineering departments to its new HQ in San Jose, closing the Rochester Hills office near Detroit.

F1 Champion Damon Hill to Drive Tesla Roadster in Green Race

Former Formula One World Champion, Damon Hill will sit behind the wheel of a Tesla Roadster in the GreenFleet Capital Arrive ‘N’ Drive 08 event, which will start on London’s Horse Guards Parade on 31 July, 2008. The eco-friendly challenge aims to promote the latest innovations to reduce emissions and improve air quality in London. The Tesla Roadster will be among the 20 public and private sector drivers taking part in the 33 mile-course to demonstrate the use of electric power as a viable alternative to conventional fuel sources. -Continued

Talking about the event, Darryl Siry, senior vice president of sales, marketing and service, Tesla Motors said: “It is a huge privilege for Damon Hill to present the Tesla Roadster to car enthusiasts on the capital’s streets. This will be a perfect opportunity for people to witness high performance and fun motoring without the need to compromise the environment.”

Tesla to Build Mass Market Electric Sedan in California

Tesla’s forthcoming battery-powered 4-door sedan model that is scheduled to enter the market in 2010 will be manufactured at a facility in the state of California (just like the Roadster) and not in Albuquerque, New Mexico as it was previously announced. Tesla Motors and Californian Governor Schwarzenegger made the announcement at a joint press conference at the company’s San Carlos headquarters.

“Today’s announcement is incredible news for California’s economy and its environment,” said Governor Schwarzenegger. “If California was a baseball team this would be like winning the first round draft pick and recruiting a player who is a perfect fit on our roster because Tesla Motors and its all-electric cars belong in California,” the Governor added. -Continued

Ze’ev Drori, President and CEO of Tesla Motors, remarked, “Tesla has achieved an extraordinary accomplishment. We are the only automobile company today delivering full performance battery-electric vehicles to our customers. Make no mistake - we are not a niche player with a car only for the rich and famous. As our agreement with the state so clearly demonstrates, we are building a high volume ZERO EMISSION VEHICLE, manufactured in California for mid-range family use. And we aren’t going to stop there. We will continue on and build even more affordable cars.

You are witnessing the debut of a new car company, a company unlike all others, a company with a disruptive technology, a company dedicated for the exclusive production of Zero Emission Vehicles.”