An Update from Elon Musk

An Update from Elon Musk

Elon Musk Blog

Answers questions concerning financing and repayment of DOE loan. 100 Model S built the last week of September.

kent | October 3, 2012

Tried to link - See latest Blog.

TheAustin | October 3, 2012

Well, I'm sold. After a couple of years of "Are they ever really going to really make this car, or did I just throw away $5,000?" I've been feeling increasingly positive over the last few months. The first few cars being built and delivered helped...The virtual unanimous stellar (not just positive, but RAVE) review helped a lot more. Then, this recent tsunami of concern over build/delivery delays, coupled with the "delayed payments to the DOE" hit, and left me feeling more than just a little bit worried again. However, after reading Elon's explanation, I'm feeling much better, and perhaps even hopeful that there's a chance that I'll see my gorgeous P2009 blue performance Model S parked in my driveway before the end of the year.
Fingers crossed...We're all in this together!

Brian H | October 3, 2012

Exactly as I thought. Glad he agrees with me!


mrspaghetti | October 3, 2012

I was never worried to begin with. I bought my ass off in TSLA when everyone else was wringing their hands.

Brian H | October 3, 2012

I'd say it was a near-certainty. Early Dec. is my projection. Bet on it!

rd2 | October 3, 2012

100 cars last week is great. I read somewhere on this forum that the current production this week may approach 50/day. If they continue this ramp up toward a goal of 80/day, I would think they will hit P2000 in mid November, barring any delays. Wouldn't that be nice? :)

kalikgod | October 3, 2012

I got some TSLA on "Domesday Tuesday" also.

Elon's post confirms that he wasn't full of it on the Q2 communication. He said Tesla would get some extra emergency cash later in the year (primarily for X not S) and would try to hit a goal of 5k this year (no guarantee). He said it was a soft target even back then, so the 2012 revenue revision was to be expected.

I'll be interested to see where TSLA opens tomorrow when the Wall Street boys read the post in the morning.

mbcaffe | October 3, 2012

If after hours is any indication,tesla should be up. Up .70 after hours I

kalikgod | October 3, 2012

In Elon's post he says "In the public call with investors, I tried to make this point, but perhaps should have emphasized it more: we expect Tesla to become cash flow positive at the end of next month."

Can anyone find a link to that audio? Is this a new public call, or is he referencing Q2 call?

gary.greene | October 3, 2012

Elon's blog clearly demonstrates the current and future success of this company. Of course the "boo birds" (appropriate term for the month of October) out there who have a conservative agenda and are looking for Tesla to fail will manipulate the facts in favor of supporting their negative agenda that is pro big oil and anti innovation. Go Elon! Go Tesla!

EdG | October 3, 2012

No mention of a possible new stock issue. It would be nice to hear they're not planning on diluting current shares... Or are they?

doutt | October 3, 2012

Does anyone know exactly what this means?

"Our production rate in the last week of September was roughly 100 vehicles"

Is that from sheet metal to a delivery ready car?

DouglasR | October 3, 2012

I would think it means 100 vehicles coming off the end of the production line, i.e., 100 vehicles finished.

kalikgod | October 3, 2012


I take that as 100 vehicles passed final quality check last week. I think there is a couple weeks between sheet metal and final quality check.

Elon tweeted 100 vehicle bodies this week on September 16th, now he says 100 vehicles produced last week. My guess is most of those are the same cars.

Brian H | October 3, 2012

New, as in a third one? This second one diluted by about 7/105 x 100% = 6%. And the market rose over the strike price, meaning it considered the added value per share to exceed the dilution effect.