Tesla takes 500 reservations for Model X
Tesla announced that the Model X, its newly announced electric SUV, is the fastest-selling Tesla yet--two years before any actual sales.
In a shareholder letter released in conjunction with its fourth-quarter results, Tesla gave some tantalizing details about buyer interest in the car's unveiling on February 9.. The company received 500 reservations for the Model X, at a refundable cost of $5,000 each, after the
Model X deliveries will not begin until 2014. Tesla expects to produce 10,000 to 15,000 Model X vehicles per year. Although Tesla has not announced the price of the Model X yet, it should be on par with the previously shown.
The company also noted that reservations for its Model S increased after the Model X unveiling. Model S deliveries begin this year.
The shareholder letter touted Tesla's partnerships with Toyota and Daimler, noting that the development of the electric power train for the Toyota's upcomingis on track. For Daimler, Tesla has been commissioned to develop an electric power train that will go in a future Mercedes-Benz electric vehicle.
Tesla had revenue of $204 million in 2011, but showed a loss of $2.21 per share. The company projects revenue in 2012 of $550 to $600 million. Net losses are expected to end in 2013 as Model S sales reach full volume.