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© Copyright 2012 Tesla Motors, Inc. Tesla Motors Investor Presentation Spring 2012
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Page 1: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Tesla Motors Investor PresentationSpring 2012

Page 2: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Forward-Looking Statements

Certain statements in this presentation, including statements relating to the development, testing,

performance, pricing, attributes, schedule of development, launch, and volume expectations of Model S,

Model X and Gen III; the ability to achieve revenue, gross margin, spending and profitability targets; the

ability of Tesla to produce vehicles at its factory; the products and schedules related to, and the financial

results expected from, Tesla’s development programs with Daimler and Toyota; the sufficiency of current

available funds to develop Model S and Model X; and the ability of Tesla to execute on its new interactive

retail strategy and future store opening plans are “forward-looking statements” that are subject to risks and

uncertainties. These forward-looking statements are based on management’s current expectations, and as

a result of certain risks and uncertainties, actual results may differ materially from those projected.

The following important factors, without limitation, could cause actual results to differ materially from those

in the forward-looking statements: market acceptance of electric vehicles in general and new Tesla vehicle

models, specifically Model S and Model X; delays in the design, manufacture, launch and financing of

Model S, including the build-out of its manufacturing facility; the risk associated with a decline in revenues

prior to the launch of Model S; achieving expected results from powertrain systems; competition in the

automotive market; Tesla’s ability to establish, maintain and strengthen the Tesla brand; the unavailability,

reduction or elimination of governmental and economic incentives for electric vehicles; Tesla’s ability to

execute on its plans for its new interactive retail strategy and for new store openings as well as the risks

and uncertainties identified under the sections captioned “Risk Factors” and “MD&A” in its Form 10-K filed

on February 27, 2012. Tesla disclaims any obligation to update information contained in these forward-

looking statements.

Page 3: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

• Past Success …

Enables our Future

Progress Timeline

Foundation for

Success

Focused Value

Creation

Lead the

Way Forward

Page 4: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Electric VehicleIntellectual Property

RoadsterSuccess

PartnershipsPlatform For

Growth

• Range Leader

(single charge)

• Cost Leader

(battery pack)

• Proven battery pack

safety, reliability and life

• Branded Tesla as EV

leader

• Safety & reliability

validated

• Proved EV driving could

be exciting & preferable

• Investments from

Daimler, Toyota &

Panasonic

(10% combined)

• Sales to Daimler &

Toyota validates our

technology

• Tesla-owned stores &

service centers

• Tesla Factory

World Class Tech & Auto Management Team

Past Success … Enables our Future

Page 5: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

• Past Success …

Enables our Future• Deliver an Exceptional

Model S by July 2012

Progress Timeline

Foundation for

Success

Focused Value

Creation

Lead the

Way Forward

Page 6: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S – Better By Design

Battery

Pack

Powertrain

Page 7: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

Designed to be a better vehicle from the ground up

Harnessing ALL the benefits of an EV approach

Page 8: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

Stunning Interior• Seats 5 Adults + 2 Children

• Storage Front & Back

• 17” Touchscreen Console

Page 9: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

Leading Performance & Handling• 0–60mph in 4.4 seconds (Performance Model)

• Low Cg + High Torsional Rigidity

• Smooth & Quiet

Page 10: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

Goal: 5 Star Safety Rating• Superior Frontal Crumple Zones

• Minimal Side Impact Intrusion

• Alum. Body = Strong & Lightweight

Page 11: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

Improved Reliability• Fewer Moving Parts &

Modular Design

= Service That Comes to You

• No Oil Changes

• Longer Brake Life

Page 12: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

Lower Operating Cost• Saves ≈$2,000*/yr in Fuel Cost

• No Oil Changes

* - Operating Cost Assumptions

300 mi. range Model S operating cost is 3.3

cents/mi. (based on DoE Natl. avg. elec. cost of

11.8 cents/kWh )

Sports sedan operating cost is $0.20

(based on $4/gal gasoline / 20mpg = 20

cents/mi.)

($0.20 - $0.033) x 12,000 miles/yr = $2,000 /yr.

Page 13: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model S Redefines the Premium Sedan

More Efficient = Eco-friendly• Significantly More Efficient than

Gasoline Power

• Zero Tailpipe Emissions

• Recyclable Battery Pack

Page 14: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Model X – A New Vehicle Category

Functionality, Style & Performance

World’s First 2-Motor All Wheel Drive

Over 500 Reservations in 24 Hours

Falcon Wing Doors DeployedTesla Motors Model X

Page 15: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

• Past Success …

Enables our Future• Deliver an Exceptional

Model S by July

• Demonstrate

Economic Potential

Progress Timeline

Foundation for

Success

Focused Value

Creation

Lead the

Way Forward

Page 16: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Long Term Growth Targets

Year Vehicles

Vehicle

Units

Global

Segment

Mkt. Share*

2012 Roadster & S 5,300+ < 1%

2013 Model S 20,000 ≈1%

2014 S and X 30,000+ ≈2%

Future Lower Priced Third Generation Platform

Long Term Operating Margins Targets

Gross Margin 25%

Operating Margin Low – Mid teens %

Demonstrate Economic Potential

Historical Plant Capacity Exceeded 400,000

Vehicles per Year!* - similar vehicles including

Mercedes E-Class, BMW 5

Series, Audi A6, Porsche

Cayenne, Land Rover, Audi Q7

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© Copyright 2012 Tesla Motors, Inc.

Minimum $5,000 refundable reservation price

Limited marketing effort

Reservations Show Strong Demand

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11

Cumulative Model S Reservations

U.S. Signature Series Sold Out in Q4’11

Page 18: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Sufficient Liquidity to Reach Our Goals

Sufficient liquidity to reach profitability

Cash & Restricted Cash

$304M

RemainingDoE Facility

$189M

$493M of Total LiquidityAs of 12/31/11

Page 19: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

• Past Success …

Enables our Future• Deliver an Exceptional

Model S by July

• Demonstrate

Economic Potential

• Tesla: Built to Win

Progress Timeline

Foundation for

Success

Focused Value

Creation

Lead the

Way Forward

Page 20: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

$650+

$345

$-

$100

$200

$300

$400

$500

$600

$700

2010 [1] 2020 [1] Tesla Model S

[2]

Electric Powertrain - Leadership on Range & Cost

[1] Cost Survey: Roland Berger Study

LiB Value Chain and Cost Model (March

2011)

[2] Tesla Model S – Projected cost not

disclosed. Includes all cells, electronics,

packaging and labor costs

Tesla Leads on Cost (battery pack cost – $/kWh)

Tesla Leads on Range (maximum miles per single charge) * - Estimated

+ - EPA 2-cycle city/highway test

† - EPA derived 5-cycle test

35

73

76

245

300

Chevy Volt †

Nissan Leaf †

Ford Focus †

Tesla Roadster +

Tesla Model S *+

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© Copyright 2012 Tesla Motors, Inc.

18650 Cells Battery Pack Power Electronics Motor Gear Box

• Power Mgmt Software

• 2 Way Inverter

• Charge Mgmt Software

• On Board Charger

• Flux Phasing & Mgmt

• Compact Design

• Thermal Mgmt Software

• Proprietary Design

• Up to 18,000 RPM

• No Shifting

• In House Mfg

• Instant Peak Torque

• A/C Induction Motor

• No Rare Earth

Metals

• 87% Avg Efficiency

• In House Mfg

• Unique Chemistry

• Proprietary Cathode

Geometry

• Automotive-Grade

Construction

• Passive Safety

Features

• Modified Cell Case

• High Energy Density

• Active Cooling

• Mfg Trade Secrets

• Charge Balancing

• Active Safety Features

Integration = A System that is Greater than Sum-of-the-Parts

Intellectual Property and Patent Protection Throughout

Over 50 Patents Awarded

Over 230 Patent Applications Pending

Tesla Powertrain – Proprietary from End-to-End

Page 22: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

EV Powertrain Business – World Leader

World’s Largest Vendor of EV Powertrains

Toyota RAV4 EV – Available 2012

Providing full powertrain under multi-year agreement

Expanding Relationship with Mercedes-Benz

Successful Smart fortwo and A-Class programs

Starting development program for a new M-B vehicle

with a full Tesla powertrain

Page 23: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

EV Platform = Rapid, Low-Cost Development

Leveraging the unique benefits of the electric powertrain

•Fewer Parts

•No Transmission

•No Emissions

Control Systems

•Common

Powertrain

•Revolutionary

Packaging

•Adaptable

Chassis Platform

Model S Model X

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© Copyright 2012 Tesla Motors, Inc.

High Product Refresh Rate

Tesla Roadster

• Shipping since 2008

• Over 2,100 sold in over 30 countries

• Over 20 million miles driven

Tesla Model S

• Available by July 2012* - Release Candidate phase in progress

• 20,000 units per year, pricing starting at $49,900*

• World’s first, production intent all-EV vehicle

Tesla Model X

• Production begins late 2013/Deliveries early 2014*

• 10,000 – 15,000 units per year*

• Based on Model S platform

Tesla Gen III

• Smaller vehicle platform; pricing starting at $30,000*

• Positioned for “mass-premium” market appeal and volume

• Availability TBD

* - Estimated dates, volumes & pricing (net of US tax credit of $7,500 for purchase of alt. fuel vehicles; credit may expire)

Tesla’s

“S” Platform

Tesla’s

“Gen III”

Platform

Modified

Lotus Elise

Platform

Page 25: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

• 5 million ft2 / 200+ acres

• 400,000+ unit historical

capacity

• $42MM purchase price

• Equipment purchased at

attractive prices

Final Assembly

Material Handling

Press Shop

Paint Shop

Plastics

Offices

Body In White

Planned Model S Facilities Future Programs

Fremont Facility – Room for Significant Growth

Tesla Factory

Fremont, CA

Page 26: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Agile Manufacturing – Latest Technology

Press Center

Body Assembly Center

Model S & Paint Center

Indoor Test Track

Model S on Automated

Guided Vehicle

Plastics Injection Molding

Page 27: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

Existing Planned

Tesla-Owned Distribution & Service

• Manage the entire customer experience; Accelerate time to market

• Sales at retail price; Lower costs of facilities, inventory & service

• 2011: 20 Stores 2012: ≈ 30 stores 2013: ≈ 50 stores(store totals exclude additional service centers)

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© Copyright 2012 Tesla Motors, Inc.

Storefront

Interior

• Technology that

informs customers

• “Product Specialists”

to answer questions

• Display vehicles open

for customers to sit in

• Conveniently located

parking area for test-drives

and Tesla vehicle charging

• Transparent and

inviting

• Affluent, high-traffic

locations

Better Customer Experience

Stores designed to:

Engage

Excite

Inform

Test Drive Cars

Page 29: Telsa Recruit

© Copyright 2012 Tesla Motors, Inc.

• Past Success …

Enables our Future• Deliver an Exceptional

Model S by July

• Demonstrate

Economic Potential

• Tesla: Built to Win

Summary

Foundation for

Success

Focused Value

Creation

Lead the

Way Forward