Tesla Loses $49.8 Million In Q1 2014, Panasonic On Board With Gigafactory

The Truth About Cars ^ | May 8, 2014 | Derek Kreindler

[jjotto]

Although Tesla reported a profit of $17 million on $713 million in revenue, their financials were reported using non-GAAP (Generally Accepted Accounting Principles) figures. Which means that my current checking account, according to non-GAAP figures, is probably somewhere in the high seven figures.

Using GAAP numbers, Tesla lost nearly $49.8 million, on revenues of $620 million. Despite the loss, Tesla delivered 6,457 units, and expects to sell 35,000 Model S units this year. Tesla also announced that their Model X SUV will be delayed again, until 2015.

But the bad news was interrupted today by a major development for Tesla. Panasonic, a major supplier of battery cells to Tesla, signed a letter of intent regarding their new “Gigafactory” that will build lithium-ion batteries somewhere in the Southwestern United States.

[boop]

Interestingly, I saw one for the first time tonight as I was driving home from work.

Very sharp looking.

But ALL that I was thinking is: Wow! Someone is very rich and has money to spare, just to show off.

At 100K/per, you could buy a really nice ride.

Time will tell just how "great" Tesla is.

[TChad]

I know, I know, Tesla is evil because it has used (and no doubt wasted) government funding.

I still want to like the company. A Tesla is a great gadget.

[norwaypinesavage]

"there are 150 mpg diesel/water engines by volkswagon and they won’t let them in the country."

Those are located on the shelves buried under the Ford Rouge Plant, along side the 99 mpg carburetors.

[4rcane]

All the large businesses have government funding, so government could claim credit for everything.