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Tesla: Model S alpha due end of 2010, launch on track for 2012

Tesla said that its electric sedan, dubbed the Model S, is on track for a 2012 launch. In the meantime, Tesla said it would deliver an alpha build of Model S by the end of 2010.
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Written by Larry Dignan on

Tesla said Tuesday that its electric sedan, dubbed the Model S, is on track for a 2012 launch. In the meantime, Tesla said it would deliver an alpha build of Model S by the end of 2010.

The Model S update came amid Tesla's third quarter earnings report. The company reported a net loss of $34.9 million, or 38 cents a share, on revenue of $31.2 million, down from $45.5 million a year ago. Tesla said that sales of its Roadster improved from the second quarter, but it's clear that the company will need Model S to pick up sales slack in the future. Tesla has more than 1,300 Roadster's on the road.

Tesla CEO Elon Musk said the company's goal is to deliver the first alpha prototype of Model S by the end of the year. He added that the Model S powertrain has been tested on the road for "several weeks now." In addition, the Model S alpha build is underway with stamping, casting and extrusion of body panels as well as assembly.

The company's R&D spending in the third quarter jumped to $26.7 million, up from $15.4 million in the second quarter, as it prepped Model S.

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This post was originally published on Smartplanet.com

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