The 3rd quarter of 2011 has been a good one for Tesla Motors. Its letter to its shareholders was quite upbeat with news that sales of Roadsters and Model S reservations were on the rise, development targets for its own vehicles and the Toyota Rav4EV are being met and its financial performance was better than expected. All this put the markets in a giddy mood and its stock shot up, hitting $32.41 at one point. Days later, it remains above $31 (as of this writing).
The letter, along with the conference call, also held a bit of new information. Most significantly, a letter of intent (LOI) has been signed with Daimler that would see an entire powertrain developed for a vehicle in the future. Perhaps – and this is just our conjecture – we will see an all-electric B-Class E-Cell from the German company. Details are being kept under wraps for now, but we hope to hear more by the time the Detroit Motor Show rolls around in January.
Another bit of news concerns the upcoming Tesla Model X. The all-electric SUV, built upon the Model S platform and sharing many of its components, will apparently have four-wheel-drive if not as standard, then as an option, and be available to customers as soon as late 2013 at a price said to be close to that of the $57,500 Model S. Production volumes of 10,000 to 15,000 are planned for 2014.
What will it look like? Well, if the photo heading this post is the clay-model-in-the-design-studio it appears to be, and you have the sort of quantum x-ray vision it would take to peer under the black cloth, then, it looks like that. For us mere mortals, we will have to wait just a short while and all will be revealed soon.
If you'd like to get into the nitty gritty of the latest Tesla missive, you can read the Shareholder letter for yourself at this link.