When Does Tesla Plan to Unveil Its Newest Prototype?

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Editor's note: A previous version of this article misstated the date of Tesla's next earnings release. The Fool regrets the error.

At a recent presentation for Model S owners at his company's new service center in the German city of Munich, Elon Musk, CEO of Tesla Motors (Nasdaq: TSLA) revealed some new information relevant to both the German market and the company's global future.

More AC for the autobahn
He was announcing a soon-to-be-released free retrofit update, giving Model S owners an improved driving experience at high speed. That's a much-needed upgrade for German owners, who can reach speeds of 200km/h on the Autobahn. He also confirmed that Tesla's Supercharger network in Germany will have Europe's highest number of stations per capita by the end of 2014. The reason is simple: The faster you drive, the more you will need to recharge.

Musk stated that Tesla is increasing its focus on the German market. Germans are very protective of their big automakers, such as BMW; if Tesla manages to beat the German automakers on their own turf, it would send a strong message to the global car industry.

A peek at Tesla's future
Musk then revealed new details about the mass-market GEN III car, possibly named the Model E, on which Tesla's current market valuation heavily relies. For the first time, he announced a timeframe for a prototype: 12 to 15 months. He also reiterated that it'll have a range of at least 320km (200 miles).

Musk reassured his audience about the current anxiety surrounding Tesla's battery cell supply. He stated that Panasonic is set to increase its battery manufacturing capacity to allow Tesla to build between 1,200 and 1,500 cars a week by the end of next year. Samsung and LG are also stepping up as secondary suppliers to make sure the supply of battery cells keeps up with the demand.

Musk also gave some insight into next year's plans to ramp up of production next year. He is spending 80% of his time on the expansion of the production capacity and the development of the Model X SUV, and he sees about 200 deliveries a week in Germany in comparison to 400 a week in the US.

Tesla Motors will post its financial results for the third quarter after market close on Tuesday, Nov. 5. While you're waiting for those earnings, check out full video of Musk's talk at the Munich event:

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Read/Post Comments (6) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On October 22, 2013, at 2:22 PM, IhateNASA1 wrote:

    Tesla, all new models will come equipped with a Frunk BBQ grill standard, strike a piece of metal to ignite.

  • Report this Comment On October 22, 2013, at 2:25 PM, fasteddie4fools wrote:

    They are not releasing earnings today. That doesn't happen until Nov 5.

    Sorry, cred lost.

  • Report this Comment On October 22, 2013, at 2:29 PM, FredericLambert wrote:

    I wrote nov 5, but corrected it to today. I dont know why?

  • Report this Comment On October 22, 2013, at 2:32 PM, StanO6 wrote:

    Earnings report today? Link please.

  • Report this Comment On October 22, 2013, at 2:40 PM, TMFNato wrote:

    That's yours truly's fault, and has since been corrected. Our apologies for the error!

  • Report this Comment On October 23, 2013, at 3:09 PM, CAGriffinX2 wrote:

    @IhateNASA1: Although I admit your "Frunk BBQ grill" comment is very funny, Elon Musk just pointed out in Munich, that had it been a gasoline powered car, the piece of metal would have entered the passenger area with tremendous force and could have killed the driver. This piece of metal managed to pierce a 3-inch-diameter hole in the Model S' 1/4-inch-thick armor plate that protects the battery pack. Gasoline powered cars only have a thin sheet of metal underneath to protect the car's occupants.

    Plus, the Model S is so advanced that the car TOLD the driver that there was a problem, and that he should safely pull over and exit the vehicle!! The fire was contained to within only the front module (out of 16 modules - each of which is separated by a firewall) of the pack until the fire department arrived and cut a hole into the pack to extinguish the fire within. Only then did the fire spread to the frunk area of the car. The car actually performed flawlessly in protecting the driver from injury in such a catastrophic event.

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