Tesla Opens Third Retail Store and Plans Recharge Network
May 16 15
Tesla has opened its third retail store in Australia and its second in Melbourne. The new store, with a bright red, two-storey high Tesla sign, is in Richmond's Maple Close business park, owned by local investors Michael Gannon and Gus Cooper. They bought the six-building office complex at 650 Church Street for $20 million in 2010. Tesla has joined two office buildings on Walnut Street to create a 2,500 square metre showroom. At the new store, potential Tesla customers can test drive the Model S car and place their order. Those who already own one of the luxury, hi-tech vehicles can recharge at one of four supercharge stations and have their car serviced.
Tesla Motors, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Operating Guidance for the Second Quarter of 2015; Provides Capital Expenditures Guidance for the Full Year of 2015
May 6 15
Tesla Motors, Inc. announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company's total revenues were $939,880,000 compared to $620,542,000 for the same period a year ago. Loss from operations was $102,446,000 compared to $43,967,000 last year. Loss before income taxes was $151,141,000 against $48,991,000 a year ago. Net loss was $154,181,000 or $1.22 per basic and diluted share compared to $49,800,000 or $0.40 per basic and diluted share last year. Cash used in operating activities was $131,794,000 compared to cash flows provided by operating activities of $58,723,000 last year. Capital expenditures were $426,060,000 compared to $141,364,000 last year. Negative free cash flow was $557,854,000 compared to $82,641,000 last year. Net loss (Non-GAAP) including lease accounting was $91,645,000 compared to $4,369,000 last year. Non-GAAP diluted net loss per share was $0.36 compared to net income of $0.12 a year ago. Non-GAAP revenues were $1,103,556,000 compared to $713,048,000 for the same period a year ago.
For the quarter, the company produced 11,160 vehicles, exceeding plan while improving efficiency.
For the second quarter of 2015, the company expects to produce about 12,500 vehicles, representing a 12% sequential increase. The company plans to deliver 10,000 to 11,000 vehicles in second quarter, and company is still on track to deliver approximately 55,000 Model S and X cars in 2015.
The company still plans to invest about $1.5 billion in capital expenditures in 2015 as company expand production capacity, purchase Model X tooling, continue to build the Gigafactory, and expand the stores, service centers and the Supercharger network.
SolarEdge Partners with Tesla to Offer Distributed Photovoltaic Solutions
May 4 15
SolarEdge (SEDG) said it would collaborate with Tesla Motors (TSLA) to provide an inverter solution that will allow for grid and photovoltaic integration with Tesla's home battery solution, the Powerwall. The solution will allow for outdoor installation and will include remote monitoring and troubleshooting to keep operations and maintenance costs low, SolarEdge said. The solution will also support upgrading existing SolarEdge systems with the storage solution.
Sunrun and Tesla Motors Collaborate to Offer Consumers Home Energy Storage Nationwide
May 1 15
Sunrun announced its collaboration with Tesla Motors, Inc. to expand access to renewable energy storage systems for homeowners across the country. As part of the agreement, AEE Solar will add Tesla's Powerwall Home Battery to its line of storage offerings sold for use in homes. The agreement also expands Sunrun's energy storage program to include new types of storage solutions. Through its AEE subsidiary, Sunrun will be able to make these solutions available to the entire solar energy industry.