Tesla Motors posts a loss
CALIFORNIA - Electric car maker Tesla Motors Inc posted a sharply wider net loss than a year earlier, but said development of its new Model S sedan was on schedule.
The automaker known for a $109,000 Roadster, said its net loss widened to $34.9 million, or 38 cents per share, in the third quarter, from $4.6 million, or 66 cents per share, a year earlier. Revenue fell 31.4 percent to $31.2 million.
Tesla had previously said it expected to report losses until at least 2012. It expects to introduce the Model S sedan at a price of about $57,400 around the middle of 2012.
The carmaker said it is now testing a prototype powertrain for the Model S and expects to complete a test version of the vehicle by the end of the year.
Tesla, which completed an initial public offering in the summer, has agreed to act as a key supplier to Toyota Motor Corp for an electric Toyota RAV4.
Toyota holds a $50 million stake in Tesla and Panasonic Corp has agreed to invest $30 million.
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FRISCO - Frisco has now set a goal of 100-per-cent renewable energy. But unlike some other resolutions adopted in the last decade, this one isn't purely aspirational. It's swimming with a strong current.
With the resolution adopted last week by the town council, Frisco joins 10 other Colorado towns and cities, plus Pueblo and Summit counties, in adopting 100-per-cent goals.
The goal is to get the municipality's electricity to 100-per-cent by 2025 and the community altogether by 2035. The language of the resolution specifies that this goal is for electricity only.
Decarbonizing electricity will be far easier than transportation, and transportation far easier…
