Tesla Motors Announces 2008 Roadster Production Schedule and Achievement of Critical Milestones on Crash Tests and Range Testing

Market Wire, September, 2007

WHAT'S NEWS

--  Michael Marks, CEO of Tesla Motors, has established a
    production goal of 50 cars in the first quarter of
    2008, followed by an additional 600 cars for the
    remainder of the year.
--  Tesla has been engaging in intensive durability and
    validation testing of final prototype cars (known as
    "validation prototypes.")
--  This production schedule provides the opportunity to ensure that the
    all aspects of the production cars meet the level of quality and
    reliability that is expected when shipped to customers.
--  As part of this final testing, a Tesla Roadster ran for 245 miles on
    the combined EPA cycle on a single charge (235 on the EPA highway
    cycle, 255 on the EPA city cycle.)
--  Separately, a validation prototype Tesla Roadster successfully passed
    static and dynamic side-intrusion crash tests, the only tests that
    were not passed in the earlier prototype phase.
--  In other performance testing, a validation prototype Tesla Roadster
    accelerated consistently from 0 to 60 mph in under 4 seconds.
--  Tesla Motors has initiated a unique program, inviting customers to
    participate in durability and validation testing by road-testing our
    validation prototypes and providing feedback to marketing and
    engineering teams. Customers have shared their feedback on the Tesla
    Motors blog and with other customers in a members-only online forum.
--  Tesla will stop taking reservations for 2008 Roadsters in the near
    future and initiate a traditional waiting list. Customers who sign up
    for the waiting list will pay $5,000 for their place in line for
    additional 2008 Roadsters if and when an increase in production is
    announced. Alternatively, customers on the waiting list will be first
    in line for the 2009 model year Roadster (pricing and specifications
    for 2009 Roadsters is not yet announced.)

ADDITIONAL BACKGROUND

--  The announcement of this production schedule represents a change from
    the previously stated goal of fall 2007. In the last letter to customers in
    August, former CEO Martin Eberhard indicated that the production schedule
    was subject to successful completion of crash testing and durability
    testing. This new schedule represents the decision to continue with
    additional durability and validation testing prior to start of production
    and shipping of cars to customers.
--  In an announcement earlier this year, Tesla notified customers that
    the EPA range of the car was not likely to reach the original goal of 250,
    and instead would be closer to 200 miles based on progress at that time.
    Since then, Tesla engineers have worked diligently to improve on this
    critical performance metric, and the results of the effort over the last
    months have been extraordinary.
--  The EPA cycle test result was observed by CARB (California Air
    Resources Board) staff and is expected to be formally certified by EPA in
    the near future, as is standard procedure.
--  The range of the Tesla Roadster is by far the highest range ever
    achieved by a production EV. The next closest was the 1999 EV1 using nickel
    metal-hydride batteries, which achieved a 140 mile range rating. No other
    EV currently being developed has completed an official test for range using
    the EPA standard protocols.
--  Acceleration testing was performed by Tesla staff using GPS
    instrumentation with traction control on. Additional testing is planned
    with third parties in the near future.
    

RELATED NEWS & LINKS

--  A blog by Tesla engineer Andrew Simpson on the range and performance
    testing can be found at the following link:
     http://www.teslamotors.com/blog4/?p=60 
--  Blogs featuring unedited writeups of our customers' experiences
    driving the Tesla Roadster can be found at
     http://www.teslamotors.com/blog5/?p=55 
--  Tesla Motors CEO Michael Mark's letter to customers can be found on
    the Tesla Motors website at  http://www.teslamotors.com 
--  Additional information on EPA range testing procedures for the Tesla
    Roadster can be found on the following blog, published last May on the
    Tesla website :  http://www.teslamotors.com/blog4/?p=57 
    

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