Tesla (TSLA) Raises 2011 Guidance, Sees Revenue Up 50%

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10:39:12 am on February 16, 2011

I just posted about Tesla beating analyst estimates in its latest earnings report, but part of the reason why the stock is up today is due to 2011 revenue guidance above analyst estimates.  Tesla believes revenues for 2011 can rise around 50% and reach the $160 – $175 million level.  Analysts estimated $152 million in revenues for this year.  The increase in revenue is expected to come from battery pack sales to Daimler for its Smart car, funds received from Toyota for the development of the RAV4 EV which is expected to hit the market next year as well as a bump in sales for the Roadster which Elon Musk believes will be  viewed as a collectors item.

The company also commented on developments of the Model S, saying that it’s still on track for a 2012 launch and that they have an initial goal of selling 20K per year.

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