- Tesla will source another 700 Elise-based roadsters from Lotus.
- The Silicon Valley EV maker will continue building Tesla Roadsters through the end of 2011.
- Production of the Roadster was supposed to phase out before Model S sedan production began, but Tesla still needs a production plant for that car.
SAN CARLOS, California — Tesla has extended an agreement with Lotus under which the U.K. automaker will supply partly and fully assembled Tesla Roadsters through December 2011.
The earlier agreement, which called for Lotus to provide a minimum of 1,700 Roadsters, was set to expire in March 2011. The new deal calls for an additional 700 cars.
The amended agreement is critical for Tesla, which had planned to phase out production of the current Roadster prior to the launch of its midsize Model S sedan, currently slated for launch in 2012 but still in need of a production facility. Tesla had said a next-generation Roadster wouldn't be ready for production until 2013 or 2014.
News of the Lotus deal was contained in an amended filing by Tesla with the U.S. Securities and Exchange Commission. Tesla filed with the SEC in January for an initial public offering.
In the latest SEC filing, Tesla also provided updated financials. The company reports that it lost $55.7 million last year, says Reuters, down from a loss of $82.8 million in 2008.
Tesla also said it has drawn down $29.9 million from a federal loan facility of $465 million from the U.S. Department of Energy.
Inside Line says: With the Lotus contract extension, Tesla now plans to keep selling the current Roadster into 2012. — Paul Lienert, Correspondent
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madmallard says:
10:24 AM, 04/07/2010
-delray-
Its probably because they seem to have a potty-mouth when it comes to talking about other car companies and their electric vehicle programs. Kinda turns off investors.
In at least one case i read, they were trumpeting themselves as being a leader in building and designing electric cars and downplaying 'big' car companies' efforts and complaining about government favoritism to them.
I couldn't help but think after reading that (excuse me, tessla, but you didn't build an electric car. Lotus built a car, and YOU built and electric drivetrain to put on it.)
delraylocal says:
01:20 PM, 04/06/2010
Tesla is slowly going down. They need to get that new Model S out quicker than that. They can not survive on just one expensive model.
I wonder why no one is stepping in and helping$$$ them out?
charlesb says:
12:16 PM, 04/06/2010
The ticket on the last ones will likely be near $200, 000 given the way the price keeps rising. Every time I see one tested the price is higher.