This program is expected to exceed in value the sum of all powertrain agreements signed in Tesla history. [Approximately $280 million, according to Tesla.] Producing at this expected volume will allow for economies of scale that give the resulting vehicle a cost of ownership that is on par with its gasoline equivalent.This will be Tesla’s third deal with Daimler, following component supplies for smart cars and A-Class hatches.
—Letter to Shareholders
Other highlights of the quarterly report included:
- Losses widened to $89.9 million as sales of the Roadster wind down and prior to the release of the Model S.
- The first Model S customer cars will be available in June, ahead of the announced July target; Tesla is maintaining its target of 5,000 vehicle deliveries by year end.
- Tesla raised the bottom-end of its prior 2012 revenue guidance by $10 million, to $560-600 million, up from $550-600 million.
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