Electric vehicles Tesla recharges the batterycar market The Economist

16 Июн 2014 | Author: | Комментарии к записи Electric vehicles Tesla recharges the batterycar market The Economist отключены
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Tesla recharges the battery-car

IT HAS not been a good year for the industry, considering the bankruptcy of Coda and the all-but-certain collapse of the Fisker Automotive. Even carmakers such as General and Nissan have been to entice buyers (though Leaf battery car has begun to a little bit of momentum after its sales target for the second in a row).

So it is perhaps no surprise 42% of the shares in Tesla Motors, a of electric cars based in Valley, are now held by short-sellers. got a rude awakening, however, the ever-optimistic Elon Musk, boss and the man behind the Space X launch and other entrepreneurial gave word that ten years in the red, his start-up had a profit of $11.2m in the first on unexpectedly strong demand for its new S sedan (pictured above). The were well above the of even the most optimistic Tesla made a profit repaying $13m of the $465m it has from America’s Department of

All 5,000 of the battery-electric vehicles produced during the first were sold in the United But as it gears up to expand its overseas later this year, Mr is signalling that things get even better. The company now that it will produce sedans in 2013, a 5% increase its initial estimate, and anticipates 5,000 to Europe and another to Asia.

In a letter to shareholders, Mr Musk that a “stabilised” manufacturing has helped reduce the number of man needed to produce a vehicle by 40% the end of last year. Just as customers have been for the more expensive versions of the S, including one with a range of nearly 300 miles (480km), than three times of most of its competitors, including Leaf. Tesla has now decided to the basic model of its sedan.

As his public face, Mr Musk has very visible in recent among other things innovative new programmes that are to reduce concerns about propulsion. These include a battery warranty and a guaranteed price for trade-ins. He has also a willingness to take on critics, the New York Times . Tesla was considered the winner in a dispute a critical review by the newspaper of the S, with the Times acknowledging its reporter did not use especially “good in a test drive that the car’s battery.

On May 9th, Consumer Reports the Model S a 99 out of 100-point rating, the score in six years and matched once before by the Lexus

Whether the latest quarter and forecast will now send the packing remains to be seen. posted an $89.9m loss in the three months of 2012 and of sceptics still question the of the nascent industry. There are some other positive such as the strong surge in since Nissan began batteries and battery-cars in Smyrna,

But demand for the Chevrolet Volt unexpectedly dipped and vehicles other carmakers, including Honda and Toyota, are still more than asterisks on the charts.

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Meanwhile, Fisker all but certain to declare bankruptcy, senior executives signalled a hearing by the House Oversight in Congress last month. The maker of sleek plug-in let go about three-quarters of its workforce in weeks after Henrik its eponymous founder, tendered his Then there is Coda, Californian start-up that little traction with its own battery-electric car. Times are rough among electric-vehicle manufacturers.

Fisker’s battery supplier bust and was sold to a Chinese earlier this year.

it all, Mr Musk has remained upbeat about the electric-car his unbridled enthusiasm apparently over not only to Tesla but to Wall Street where, to the of those short-sellers, the company’s price has surged to over $69 a a rise of nearly $20 in barely a Mr Musk is determined to prove the right product and the right of customer support will win potential buyers. The latest report certainly has given him on that.

But now Tesla must prove it can powered up as it goes forward.

Special report: International Twilight of the gods

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