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Elon at Web 2.0 Summit 2008

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Tesla CEO: GM couldn’t afford us now - Techland

How much is Tesla Motors worth?

Tesla CEO Elon Musk won’t say, but it’s at least too expensive for General Motors to buy. “I’m not sure they can afford Tesla right now,” he said during a 30-minute talk Friday at the Web 2.0 Summit.

The South African-born entrepreneur talked candidly with host John Battelle about the failures of the auto industry and Tesla’s own troubles. Battelle had asked why GM (GM) doesn’t buy the electric car startup.

GM reported a $2.5 billion loss in the third quarter Friday and also warned that it could run out of cash soon. Said Musk, “There’s an issue with organized labor and trade and management still acts like it’s 1955. There are too many country club memberships, and [GM] management has focused on the wrong thing. “

roadster.jpg
 
Musk said the San Jose company expects to release a “power pack” for the car next year that will permit it to go from zero to 60 in 3.6 to 3.7 seconds.

This is interesting that they are starting to talk about this now. I don't remember seeing this in the media before other than in vague terms of "we could potentially do this some time in the future..."

The car will sell for under $30,000 and production volumes will reach 100,000 unites, Musk said at the Web 2.0 Summit in San Francisco.

I am sort of surprised that they are reiterating these price claims at this point. Tesla has said previously that they thought it was a mistake to have claimed a price for the Roadster so far ahead of time (and then were forced to raise them)... They also have taken the hit for pre-announcing the Model S at $50K, and have had to raise it to $60K (and it is years before it will see the light of day -- who knows its price in 2011?). I have heard Tesla employees disparage both the Karma and the Volt for doing the same thing.
 
Tesla Motors Confirms Plans For A Third Electric Car Selling For Under $30,000 TechPulse 360
...Tesla’s S Sedan will be half the price of the Roadster and is to be available in the first quarter of 2009...
Huh? S sedan available first quarter of 2009 for 1/2 the price of the Roadster?!
I think they must have mixed up the "unveiling" date (2009) with the "available" date (2011).
Gotta love the press.

http://www.techcrunch.com/2008/11/07/elon-musk-at-web-20/
...The next product Tesla will launch is a sedan, the Model S... It will be half the price of the $109k roadster...
So we really are talking $54,500 not $60K for Model S ?
 
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So we really are talking $54,500 not $60K for Model S ?

A number of times Tesla/Elon has made the statement that each successive model will cut the price in half and increase production by a factor to 10. These statements are order of magnitude, not literal dollar promises. That's my take anyway.

Or maybe Elon is telling us that the 2011 Roadster base price will be north of $120,000. :)
 
A number of times Tesla/Elon has made the statement that each successive model will cut the price in half and increase production by a factor to 10. These statements are order of magnitude, not literal dollar promises. That's my take anyway.

Or maybe Elon is telling us that the 2011 Roadster base price will be north of $120,000. :)

Could very well be $120k depending on the demand and on the finances of the company at that time. Of course Model S, Volt (assuming GM doesn't fold), Fisker Karma will be out at that time and some of the demand might be driven away. I imagine it's more likely he's referring to magnitude for the time being.
 
Could very well be $120k depending on the demand and on the finances of the company at that time. Of course Model S, Volt (assuming GM doesn't fold), Fisker Karma will be out at that time and some of the demand might be driven away. I imagine it's more likely he's referring to magnitude for the time being.

Wonder when Tesla is going to float the IPO? I'd imagine it has been set back due to the stock market tanking...BUT, these umteen rounds of funding can only go on so long before investors demand some payback I'd think.
 
I think I heard Elon said a little while after the investment round that they could file for an IPO soon. I think at the earliest he said Q2 2009, but i think he is thinking very optimistically.
 
Discussions about a 3rd car are all about getting that fed money and looking like a real car company.

Look for a Model S EP to appear (in DC:biggrin:) when the government has to make the who-gets-it decision.