Tesla has signed a new deal with Mercedes-Benz to develop an electric powertrain. It's unknown at this stage what model the powertrain will be used for. The deal was revealed as Tesla released its third quarter earnings.
Tesla reported a loss of $0.63 per share (on a GAAP basis) even though the company built revenues of $55.8 million. Total revenue was up 85 per cent compared with 2010 figures. Contributing to this was automotive sales, which were up by 11 per cent from quarter two of 2011.
Tesla says the upcoming Tesla Model S luxury sports sedan is still on target to hit overseas showrooms by July 2012. Tesla expects to sell around 20,000 Model S units per year. The company also says it is continuing investments into research and development of the Model S.
As for the Mercedes-Benz deal, Tesla is playing its cards close to its chest for now:
"Details of this deal remain confidential, but will be announced in the coming months. We still expect to complete all deliveries under the smart fortwo and A-Class programs on schedule by the end of this year."
With the A-Class and smart possible candidates already accounted for, reports suggest the new deal could pave the way for a new electric version of the Mercedes-Benz B-Class. Other reports point to an electric S-Class project. We'll keep you updated when we hear more.