Tesla Motors Will Make $60 Million From Toyota's Electric RAV4
Good News for Tesla FansThe Tesla Model S is still pretty far from dealerships, and the Roadster sales aren't quite enough to carry the company on their own (especially in this tough economy). But Tesla's been looking high and low for others sources of cash (the IPO, partnerships, government loans, etc). One of these partnerships is with Toyota. Tesla will provide the electric drivetrain for the 2012 electric RAV4.
Photo: Michael Graham Richard
According to the WSJ, this is expected to provide revenues of about $60 million to Tesla. Revenues aren't profits, but it's a start, and if Tesla can keep its costs low, this will help them get to the release of the Model S, the light at the end of the tunnel (let's hope it's not a train).
The news, which came out in an investor presentation [yesterday], boosted Tesla's stock price more than 3%. Tesla has lost $102 million through the first three quarters on revenue of $68 million, and isn't predicting profit until the Model S is released.
Tesla, based in Palo Alto, Calif., said it has received about 3,000 reservations of $5,000 a piece for the car, which the company says will get up to 300 miles of range on a single charge--far above the current capabilities of any electric car out now or due out.
You can make a reservation for the Model S here.
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