Tesla Loses $154m In 2010

Edward Niedermeyer
by Edward Niedermeyer
tesla loses 154m in 2010

Despite launching a frothy IPO, EV maker Tesla’s net loss nearly tripled last year, losing more than $154m compared to a $55.7m loss in 2009. Total revenues were up nearly $5m, but only due to a nearly $20m bump in “development services” income. Revenue from “automotive sales” was down by around $15m. R&D costs skyrocketed from $19.3m to nearly $93m, while “selling, general and administrative” costs doubled to $84m. Still, CEO Elon Musk is all optimism in the firm’s press release, crowing

We are very pleased to report continued revenue growth, improving margins and a steady progression in our Roadster and powertrain activities,. Our powertrain team delivered solid results, with an increase in orders and record deliveries of battery packs and chargers for the Daimler Smart fortwo electric drive, the completion of our development program for the Daimler A-Class, and the commencement of the phase 1 development program for the Toyota RAV4 EV.

Musk noted that the firm is on-track to start delivery of its forthcoming Model S sports sedan in mid-2012. It had better be, because Tesla’s clearly not going to sustain itself on Roadsters.

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11 of 19 comments
  • Mpresley Mpresley on Feb 16, 2011

    Who would have thought? I guess it's time for a big government (ie, taxpayer) loan. Face it, there will never be any cars from this outfit, but the executives will be well paid. And why not? The other day I heard Chairman Maobama claiming "we" needed to "invest" in this "new technology." Maybe I need to form a "start-up" and get my fair share of the spoils while there's still a country left.

    • See 4 previous
    • MikeAR MikeAR on Feb 16, 2011

      Potatoes, you fell into your own trap there, but I suppose it's ok for you because you're on the right side. Beckish comments showed your true colors, denigrate anyone who doesn't agree with you. Oops.

  • Trend-Shifter Trend-Shifter on Feb 16, 2011

    They need to change their focus to battery packs, drives, software, & controls. Ditch the auto manufacturing. Do this and they have a chance.

    • SCE to AUX SCE to AUX on Feb 16, 2011

      Your scenario is probably how it will go eventually, with Toyota as a client paving the way.

  • Obruni Obruni on Feb 16, 2011

    I agree with trend shifter. Tesla is committing a common folly with many start-ups from Silicon Valley....over expansion.

    • MikeAR MikeAR on Feb 16, 2011

      The problem isn't really overexpansion, it's Elon Musk's ability to scam investors, the government and customers that have caused their problems.

  • ChuckR ChuckR on Feb 16, 2011

    Texas loses $154M? Pikers. Obama loses that much every hour. Oh, wait. You said Tesla. Never mind.