Following premium electric vehicle maker Tesla's financial reports yesterday, which included a hefty $81.5 million loss in Q4, the company continues to emphasize a turnaround this year with revenue almost triple that of last year. This boost relies on the upcoming Model S sedan that's expected to be a hit in the second half of 2012.
Tesla's founder Elon Musk expects revenue for 2012 to be as much as $600 million with 90 percent of that revenue ushered in during the second half of this year. "The bulk of 2012 revenue is Model S-related," said Musk during a conference call yesterday, revealing that the company plans to ship as many as 5,000 units of the Model S this year.
Sales of last year's Roadster, which averages $109,000, is winding down and will be replaced by the Model S at a broader market price range of $57,400 base. At this range, the company hopes to move the vehicle at more than 10 times the pace.
Tesla will continue to supply battery packs and other components to Toyota and Daimler ahead of the Model S release. Pre-orders for Tesla's Model X SUV-style vehicle have been positive, already exceeding $40 million, while the company has also signed a deal with Daimler for a new Mercedes-Benz vehicle using Tesla's powertrain, batteries, motor, electronic controls, and software.