Killer week for Tesla – strong Model X debut and Mercedes-Benz project

The company announced that it has started a long-awaited development program with Daimler to build a new Mercedes-Benz EV with a complete Tesla powertrain.

 

Tesla reported healthy annual earnings on Wednesday, as well as several other tidbits of good news. The company announced that it has started a long-awaited development program with Daimler to build a new Mercedes-Benz EV with a complete Tesla powertrain. Daimler is already an investor in Tesla and uses Tesla battery packs for its electric Smart cars.

Just days after announcing their new crossover Model X, Tesla has already booked advance sales worth over $40 million, and reservations for the Model S were also up 30 percent following the Model X unveiling. The stock market seems to be impressed with all this, as Tesla shares (NASDAQ: TSLA) have shot up over 10 percent since Friday.

The Model X has a number of racy features, including the upward-opening Falcon Wing doors, dual motor all-wheel drive and the option of a 60 or 85 kWh battery. At zero to 60 in 4.4 seconds, it’s designed to give a Porsche a run for its money (and blow away other SUVs). Tesla says the Model X will be priced “competitively with other premium SUVs” (probably around $60k, similar to the Model S). It will be built at the Tesla Factory in Fremont, California, starting at the end of 2013, and deliveries are scheduled for early 2014. The company plans an initial volume of 10,000 – 15,000 units per year.

 

Image: Tesla