Tesla Motors Company Overview

Summer 2011
 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 and spending targets; the ability of Tesla
to produce vehicles at its factory; the 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; the quick charge capability of Model S; 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-Q filed
on August 12, 2011. Tesla disclaims any obligation to update information contained in these forward-looking
statements.
Our Vision

Create the most compelling car company

of the 21st century by
driving the world’s transition to electric vehicles
 Tesla Product Roadmap
• Shipping since 2008 Modified
• Over 1,800 sold in over 30 countries Lotus Elise
• Over 13 million miles driven Platform
Tesla Roadster

• Available mid 2012*

• 20,000 units per year, pricing starting at $49,900*
• World’s first, production intent all-EV platform design
Tesla Model S

• Revealed by end of 2011

• Available late 2013* Tesla’s
• 10,000 – 15,000 units per year* “S” Platform
Tesla Model X
• Based on Model S platform

• Additional vehicle(s) that leverage the “S” platform

• Availability TBD

Other S Derivative(s)

• Smaller vehicle platform; pricing starting at $30K* Tesla’s

• Positioned for “mass-market” appeal and volume “Gen III”
• Availability TBD Platform
Tesla Gen III
* - Estimated dates, volumes & pricing (net of US tax credit of $7,500 for purchase of alt. fuel vehicles; credit may expire)
 Uniquely Positioned in Large Market

Internal Combustion Hybrid Electric Plug-in Hybrid Pure Electric

Performance
Vehicles Roadster

Premium Model S
Vehicles Model X
Small
Premium Gen III
Vehicles

Family
Vehicles

Subcompact
/ City
Vehicles
 World Class Applied Tech & Auto Experience

Franz von
Elon Musk JB Straubel Deepak Ahuja
Holzhausen
CEO, Product Architect CTO CFO
Chief Designer

Innovator of the Year

Greg Reichow
Arnnon Geshuri Gilbert Passin Peter Rawlinson
VP, Human Resources
VP Powertrain p VP, Manufacturing VP & Chief Engineer
Operations

Jim Dunlay George Blankenship John Walker Jérôme Guillen

VP, Hardware SVP, Sales VP, N. American Sales Director, Model S
Tesla Roadster Sport Tesla Model S

Leadership in EV Technology
“Second place should need a telescope to see us” – Elon Musk
 EV Leadership on Range & Cost
1. Tesla Leads on Range (maximum miles per single charge)

Tesla Model S *+ 300

Tesla Roadster + 245

Ford Focus EV * 100

Nissan Leaf † 73

* - Estimated
Chevy Volt † 35 + - EPA 2-cycle city/highway test
† - EPA derived 5-cycle test

2. Tesla Leads on Cost (battery pack cost in $/kWh)

$700 $650+

$600

$500

$400 $345 [2]

$300 [1] Cost Survey: Roland Berger Study
LiB Value Chain and Cost Model (March 2010)
$200
[2] Tesla Model S – Projected cost not disclosed.
Includes all cells, electronics, packaging and labor
$100
costs
$-
2010 [1] 2020 [1] Tesla Model S
 Comprehensive, Proprietary Technology

Integration Delivers a System that is Greater than Sum-of-the-Parts

18650 Cells Battery Pack Power Electronics Motor Gear Box

With Deep Intellectual Property and Patent Protection Throughout

• Unique Chemistry • High Energy Density • Power Mgmt Software • Instant Peak Torque • Proprietary Design
• Proprietary Cathode • Active Cooling • 2 Way Inverter • A/C Induction Motor • Up to 18,000 RPM
Geometry • Mfg Trade Secrets • Charge Mgmt Software • No Rare Earth • No Shifting
• Automotive-Grade • On Board Charger Metals • In House Mfg
• Charge Balancing • Flux Phasing & Mgmt • 87% Avg Efficiency
Construction • Active Safety Features • Compact Design • In House Mfg
• Passive Safety • Thermal Mgmt Software
Features
• Modified Cell Case

Over 40 Patents Awarded

Over 200 Patent Applications Pending
Company Culture of Relentless Innovation

Powertrain Performance Improvements from Roadster to Model S*

Battery Module Power Electronics Motor

Continuous Power 50% Liquid Cooled Liquid Cooled

Continuous Power
Volumetric
40% Continuous Current 50% @ 70 mph 100%
Energy Density
(hill climbing ability)

* Planned. Metrics reflect 230-mile range Model S.

EV Leadership Validated By …

• Daimler
– $76 million investment (via Blackstar)
– Smart fortwo EV - battery packs/chargers for 2,100 vehicles
– Mercedes A-Class EV – battery packs/chargers for 500
vehicles

• Toyota
– $50 million investment
– Developing full drive train for RAV4 EV
• Development Services contracts - $69 million
• Production contract – approximately $100 million

• Panasonic
– $30 million investment
– Custom 18650 automotive cell in development
• Improved life, performance & safety
• Lower cost
Tesla EVs – A Disruptive Product Approach

Tesla Roadster Sport Tesla Model S

Building Better Cars …

Model S – The Archetypal Electric Vehicle

• World’s First Production Platform for an Electric Vehicle

• Tapping the Benefits of an all EV Approach
• Blending World Class Vehicle Design and Electric Vehicle Technology
 The Premium Sedan, Redefined

Technology Design Performance

Leading electric powertrain Aerodynamic profile Fun to drive

45 min. quick charge capability Very low center of gravity Up to 300 mile range

All aluminum body Seating for up to 7 Instantaneous acceleration

17-inch touchscreen Trunk in front 0 – 60 in ~ 6 seconds

3G connectivity 5 star safety target

 Delivering Model S

2010 2011* 2012*

Alpha build Crash test program begins Production validation
External body design and
engineering Stamping facility online

Safety and structural design Beta build

Mfg

Supplier sourcing Paint shop operational Release candidate build

Site preparation Installation of tooling Deliveries begin
*Planned equipment *
Model S - Strong Initial Demand

Cumulative Model S Reservations

6,000

5,000

4,000

3,000

2,000

1,000

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

Minimum $5,000 reservation price

Limited marketing effort
Model X – Second Vehicle from “S” Platform

Targets
Product Vision Functionality of a minivan, but cooler than an SUV

Prototype Reveal End of year 2011

First Deliveries Q4 2013

Vehicle Platform Same as Model S

Range Three range options, similar to Model S

Volume 10,000 - 15,000 / yr

Price and Gross Margin Similar to Model S

Manufacturing Plan Off Model S line in Fremont

Investment ~ $150 million

Sufficient Capital to Deliver Model S & Model X

$662
$M

Remaining
DOE Facility
$331

Cash and
Restricted
Cash
$331
$231

Equity Raise Total Resources

(completed Available as of
June 2, 2011) June 30, 2011

No need to raise additional funds for Model S and Model X

Tesla – A Differentiated Car Company

Tesla Roadster Sport Tesla Model S

Efficient Product Development …

Transforming the Customer Experience
 S Platform = Rapid, Low-Cost Product Development

Model S Model X Future Product Future Product

•Revolutionary •Common
Packaging Powertrain

•Adaptable •No Emissions

Chassis Platform Related Costs

Leveraging the unique benefit of the electric powertrain

 Low Plant Investment – Fremont Facility

Offices Paint Shop

• 5 million ft2 / 200+ acres

Final Assembly • 400,000+ unit historical
capacity
• $42MM purchase price
• Equipment purchased at
attractive prices
Body In White

Plastics

Press Shop

Material Handling
Tesla Factory
Fremont, CA

Planned Model S Facilities Future Programs

Tesla-Owned Distribution & Service
• Control of shopping & service experience
• Capture full retail price
• Lower facilities, warranty and inventory cost

Existing Planned
 Re-inventing the Customer Experience
Storefront
Stores designed to:
 Engage
 Excite
 Inform
Interior

Parking Area

• Transparent and
inviting
• Affluent, high-traffic
locations
• Technology that
informs customers
• “Product Specialists”
to answer questions Santana Row, San Jose CA
• Display vehicles open • Conveniently located
for customers to sit in parking area for test-drives
and Tesla vehicle charging
Consistent Performance

Area Performance to Date

• Completed alpha build on time
Model S • Manufacturing plan on track for mid-2012 launch
• Strong reservations growth
• Increased Daimler Smart fortwo orders
Powertrain • Daimler A Class development milestones achieved
• Toyota RAV4 EV development milestones achieved

Roadster • Solid sales, margin improvement

• Achieved all powertrain loan milestones

Department of Energy
• On track with all Model S loan milestones

• Strong delivery of financial metrics

Financial
• No change in Model S target margin
Since our IPO in July 2010 . . .

At IPO As of June 30, 2011

Roadsters Sold 1,063 1,800+

Miles Driven 4,000,000 13,000,000+

Countries 22 30+

Model S Reservations 2,200 5,300+

Alpha Build Complete,

Model S Status In Design
Testing Underway

Model S Facility Under Contract Installing Equipment

Stores 10 18

Employees 650 1,200+

Strategic Agreements Daimler Daimler, Toyota & Panasonic

Operating Targets

• 2012
– Start deliveries of Model S - 5000 Units
– Toyota RAV4 EV Production Begins
– End of Roadster sales @ 2,500 Units

Tesla - Model S

• 2013
– 20,000 Model S Units
– 25% Gross Margin
– Start Deliveries of Model X – Late 2013

Toyota - RAV4 EV