Today in Cleantech

The market loved Tesla’s first quarter results, popping an immediate 10 percent yesterday. And it wasn’t the numbers anyone cared about it (Tesla’s losses widened versus 2011 and were worse than analysts’ predictions). What the market liked was the symbolic move from the company to deliver a small number of Model S sedans in June, a month ahead of schedule. Production delays are a constant fear and headache in the automotive industry as we’ve seen from Fisker, and that market likes to know that cars are going to get into customers’ hands. The other thing the market loves is unexpected future sources of potential revenue (good surprises). There were two bits here. 1) The deal to build a luxury EV for Mercedes. This could be huge, cementing Tesla as the supplier of choice for the luxury EV market. 2) Word that orders are strong out of Scandanavia. It may sound irrelevant but when we’re talking about production runs on the order of 10,000, surprising demand from a new market can impact the bottom line.

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Adam Lesser

Analyst Gigaom Research

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