Tesla Losses Soar to $154.3 million in 2010, Despite Gains in Revenue

Tesla Motors has just released a preliminary, unaudited financial report concerning the year than ended on Dec. 31, 2010. The company reported losses of US$51.4 million in Q4 2010 and US$154.3 million for 2010, which was almost triple the US$55.74 million loss for the year ending Dec. 31, 2009.

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Tesla Model S Road Testing Underway [with Video]

It has been a long journey, but it looks like the Tesla Model S all-electric sport sedan is one step closer to series production as the California-based automaker announced it is moving on to the final road tests. The first phase called Alpha, which began in 2010, includes both computer simulations and test-drives of prototype vehicles. There will be a Beta phase as well.

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Tesla Partners Up with Toyota to Develop EVs, Acquires NUMMI Plant

Tesla recently finalized its purchase of the advanced (and apparently extremely clean) NUMMI production facility in order to build its upcoming Model S sedan. Tesla hopes to build as many as 20,000 units per year in the southern California facility that's capable of building one million units annually.

Other than some potential spin-offs using the Model S platform (like an electric GT), there's a lot of capacity. That's where Toyota steps in. Toyota and Tesla will be working together to develop electric vehicles. their parts, and the engineering behind them.

The new facility will hire up to 1,000 new employees initially from one of the brightest pools around: Silicon Valley.

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