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![© Copyright 2012 Tesla Motors, Inc.
$650+
$345
$-
$100
$200
$300
$400
$500
$600
$700
2010 [1] 2020 [1] Tesla Model S
[2]
Electric Powertrain - Leadership on Range & Cost
[1] Cost Survey: Roland Berger Study
LiB Value Chain and Cost Model (March
2011)
[2] Tesla Model S – Projected cost not
disclosed. Includes all cells, electronics,
packaging and labor costs
Tesla Leads on Cost (battery pack cost – $/kWh)
Tesla Leads on Range (maximum miles per single charge) * - Estimated
+ - EPA 2-cycle city/highway test
† - EPA derived 5-cycle test
35
73
76
245
300
Chevy Volt †
Nissan Leaf †
Ford Focus †
Tesla Roadster +
Tesla Model S *+](https://image.slidesharecdn.com/teslapresentation-spring2012-140424051912-phpapp01/85/Telsa-Recruit-20-320.jpg)
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Telsa Recruit
- 1. © Copyright 2012Tesla Motors, Inc. Tesla Motors Investor Presentation Spring 2012
- 2. © Copyright 2012Tesla Motors, Inc. Forward-Looking Statements Certain statements in this presentation, including statements relating to the development, testing, performance, pricing, attributes, schedule of development, launch, and volume expectations of Model S, Model X and Gen III; the ability to achieve revenue, gross margin, spending and profitability targets; the ability of Tesla to produce vehicles at its factory; the products and schedules related to, and the financial results expected from, Tesla’s development programs with Daimler and Toyota; the sufficiency of current available funds to develop Model S and Model X; and the ability of Tesla to execute on its new interactive retail strategy and future store opening plans are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations, and as a result of certain risks and uncertainties, actual results may differ materially from those projected. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: market acceptance of electric vehicles in general and new Tesla vehicle models, specifically Model S and Model X; delays in the design, manufacture, launch and financing of Model S, including the build-out of its manufacturing facility; the risk associated with a decline in revenues prior to the launch of Model S; achieving expected results from powertrain systems; competition in the automotive market; Tesla’s ability to establish, maintain and strengthen the Tesla brand; the unavailability, reduction or elimination of governmental and economic incentives for electric vehicles; Tesla’s ability to execute on its plans for its new interactive retail strategy and for new store openings as well as the risks and uncertainties identified under the sections captioned “Risk Factors” and “MD&A” in its Form 10-K filed on February 27, 2012. Tesla disclaims any obligation to update information contained in these forward- looking statements.
- 3. © Copyright 2012Tesla Motors, Inc. • Past Success … Enables our Future Progress Timeline Foundation for Success Focused Value Creation Lead the Way Forward
- 4. © Copyright 2012Tesla Motors, Inc. Electric Vehicle Intellectual Property Roadster Success Partnerships Platform For Growth • Range Leader (single charge) • Cost Leader (battery pack) • Proven battery pack safety, reliability and life • Branded Tesla as EV leader • Safety & reliability validated • Proved EV driving could be exciting & preferable • Investments from Daimler, Toyota & Panasonic (10% combined) • Sales to Daimler & Toyota validates our technology • Tesla-owned stores & service centers • Tesla Factory World Class Tech & Auto Management Team Past Success … Enables our Future
- 5. © Copyright 2012Tesla Motors, Inc. • Past Success … Enables our Future • Deliver an Exceptional Model S by July 2012 Progress Timeline Foundation for Success Focused Value Creation Lead the Way Forward
- 6. © Copyright 2012Tesla Motors, Inc. Model S – Better By Design Battery Pack Powertrain
- 7. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan Designed to be a better vehicle from the ground up Harnessing ALL the benefits of an EV approach
- 8. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan Stunning Interior • Seats 5 Adults + 2 Children • Storage Front & Back • 17” Touchscreen Console
- 9. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan Leading Performance & Handling • 0–60mph in 4.4 seconds (Performance Model) • Low Cg + High Torsional Rigidity • Smooth & Quiet
- 10. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan Goal: 5 Star Safety Rating • Superior Frontal Crumple Zones • Minimal Side Impact Intrusion • Alum. Body = Strong & Lightweight
- 11. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan Improved Reliability • Fewer Moving Parts & Modular Design = Service That Comes to You • No Oil Changes • Longer Brake Life
- 12. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan Lower Operating Cost • Saves ≈$2,000*/yr in Fuel Cost • No Oil Changes * - Operating Cost Assumptions 300 mi. range Model S operating cost is 3.3 cents/mi. (based on DoE Natl. avg. elec. cost of 11.8 cents/kWh ) Sports sedan operating cost is $0.20 (based on $4/gal gasoline / 20mpg = 20 cents/mi.) ($0.20 - $0.033) x 12,000 miles/yr = $2,000 /yr.
- 13. © Copyright 2012Tesla Motors, Inc. Model S Redefines the Premium Sedan More Efficient = Eco-friendly • Significantly More Efficient than Gasoline Power • Zero Tailpipe Emissions • Recyclable Battery Pack
- 14. © Copyright 2012Tesla Motors, Inc. Model X – A New Vehicle Category Functionality, Style & Performance World’s First 2-Motor All Wheel Drive Over 500 Reservations in 24 Hours Falcon Wing Doors DeployedTesla Motors Model X
- 15. © Copyright 2012Tesla Motors, Inc. • Past Success … Enables our Future • Deliver an Exceptional Model S by July • Demonstrate Economic Potential Progress Timeline Foundation for Success Focused Value Creation Lead the Way Forward
- 16. © Copyright 2012Tesla Motors, Inc. Long Term Growth Targets Year Vehicles Vehicle Units Global Segment Mkt. Share* 2012 Roadster & S 5,300+ < 1% 2013 Model S 20,000 ≈1% 2014 S and X 30,000+ ≈2% Future Lower Priced Third Generation Platform Long Term Operating Margins Targets Gross Margin 25% Operating Margin Low – Mid teens % Demonstrate Economic Potential Historical Plant Capacity Exceeded 400,000 Vehicles per Year! * - similar vehicles including Mercedes E-Class, BMW 5 Series, Audi A6, Porsche Cayenne, Land Rover, Audi Q7
- 17. © Copyright 2012Tesla Motors, Inc. Minimum $5,000 refundable reservation price Limited marketing effort Reservations Show Strong Demand - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Cumulative Model S Reservations U.S. Signature Series Sold Out in Q4’11
- 18. © Copyright 2012Tesla Motors, Inc. Sufficient Liquidity to Reach Our Goals Sufficient liquidity to reach profitability Cash & Restricted Cash $304M Remaining DoE Facility $189M $493M of Total Liquidity As of 12/31/11
- 19. © Copyright 2012Tesla Motors, Inc. • Past Success … Enables our Future • Deliver an Exceptional Model S by July • Demonstrate Economic Potential • Tesla: Built to Win Progress Timeline Foundation for Success Focused Value Creation Lead the Way Forward
- 20. © Copyright 2012Tesla Motors, Inc. $650+ $345 $- $100 $200 $300 $400 $500 $600 $700 2010 [1] 2020 [1] Tesla Model S [2] Electric Powertrain - Leadership on Range & Cost [1] Cost Survey: Roland Berger Study LiB Value Chain and Cost Model (March 2011) [2] Tesla Model S – Projected cost not disclosed. Includes all cells, electronics, packaging and labor costs Tesla Leads on Cost (battery pack cost – $/kWh) Tesla Leads on Range (maximum miles per single charge) * - Estimated + - EPA 2-cycle city/highway test † - EPA derived 5-cycle test 35 73 76 245 300 Chevy Volt † Nissan Leaf † Ford Focus † Tesla Roadster + Tesla Model S *+
- 21. © Copyright 2012Tesla Motors, Inc. 18650 Cells Battery Pack Power Electronics Motor Gear Box • Power Mgmt Software • 2 Way Inverter • Charge Mgmt Software • On Board Charger • Flux Phasing & Mgmt • Compact Design • Thermal Mgmt Software • Proprietary Design • Up to 18,000 RPM • No Shifting • In House Mfg • Instant Peak Torque • A/C Induction Motor • No Rare Earth Metals • 87% Avg Efficiency • In House Mfg • Unique Chemistry • Proprietary Cathode Geometry • Automotive-Grade Construction • Passive Safety Features • Modified Cell Case • High Energy Density • Active Cooling • Mfg Trade Secrets • Charge Balancing • Active Safety Features Integration = A System that is Greater than Sum-of-the-Parts Intellectual Property and Patent Protection Throughout Over 50 Patents Awarded Over 230 Patent Applications Pending Tesla Powertrain – Proprietary from End-to-End
- 22. © Copyright 2012Tesla Motors, Inc. EV Powertrain Business – World Leader World’s Largest Vendor of EV Powertrains Toyota RAV4 EV – Available 2012 Providing full powertrain under multi-year agreement Expanding Relationship with Mercedes-Benz Successful Smart fortwo and A-Class programs Starting development program for a new M-B vehicle with a full Tesla powertrain
- 23. © Copyright 2012Tesla Motors, Inc. EV Platform = Rapid, Low-Cost Development Leveraging the unique benefits of the electric powertrain •Fewer Parts •No Transmission •No Emissions Control Systems •Common Powertrain •Revolutionary Packaging •Adaptable Chassis Platform Model S Model X
- 24. © Copyright 2012Tesla Motors, Inc. High Product Refresh Rate Tesla Roadster • Shipping since 2008 • Over 2,100 sold in over 30 countries • Over 20 million miles driven Tesla Model S • Available by July 2012* - Release Candidate phase in progress • 20,000 units per year, pricing starting at $49,900* • World’s first, production intent all-EV vehicle Tesla Model X • Production begins late 2013/Deliveries early 2014* • 10,000 – 15,000 units per year* • Based on Model S platform Tesla Gen III • Smaller vehicle platform; pricing starting at $30,000* • Positioned for “mass-premium” market appeal and volume • Availability TBD * - Estimated dates, volumes & pricing (net of US tax credit of $7,500 for purchase of alt. fuel vehicles; credit may expire) Tesla’s “S” Platform Tesla’s “Gen III” Platform Modified Lotus Elise Platform
- 25. © Copyright 2012Tesla Motors, Inc. • 5 million ft2 / 200+ acres • 400,000+ unit historical capacity • $42MM purchase price • Equipment purchased at attractive prices Final Assembly Material Handling Press Shop Paint Shop Plastics Offices Body In White Planned Model S Facilities Future Programs Fremont Facility – Room for Significant Growth Tesla Factory Fremont, CA
- 26. © Copyright 2012Tesla Motors, Inc. Agile Manufacturing – Latest Technology Press Center Body Assembly Center Model S & Paint Center Indoor Test Track Model S on Automated Guided Vehicle Plastics Injection Molding
- 27. © Copyright 2012Tesla Motors, Inc. Existing Planned Tesla-Owned Distribution & Service • Manage the entire customer experience; Accelerate time to market • Sales at retail price; Lower costs of facilities, inventory & service • 2011: 20 Stores 2012: ≈ 30 stores 2013: ≈ 50 stores (store totals exclude additional service centers)
- 28. © Copyright 2012Tesla Motors, Inc. Storefront Interior • Technology that informs customers • “Product Specialists” to answer questions • Display vehicles open for customers to sit in • Conveniently located parking area for test-drives and Tesla vehicle charging • Transparent and inviting • Affluent, high-traffic locations Better Customer Experience Stores designed to: Engage Excite Inform Test Drive Cars
- 29. © Copyright 2012Tesla Motors, Inc. • Past Success … Enables our Future • Deliver an Exceptional Model S by July • Demonstrate Economic Potential • Tesla: Built to Win Summary Foundation for Success Focused Value Creation Lead the Way Forward