Preview: Martin Eberhard - Tesla Motors, California ARB ZEV Symposium

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California ARB ZEV Symposium 26 September 2006 Martin Eberhard 1 © 2006 Tesla Motors Inc. Proprietary And Confidential Agenda     2 Tesla Motors Introduction Tesla Motors Status Charging Standard Technology Comparison © 2006 Tesla Motors Inc. Proprietary And Confidential Tesla Motors Introduction 3 © 2006 Tesla Motors Inc. Proprietary And Confidential A Brief History of EVs "There "Theresimply simplywerent werentenough enough[EV-1 [EV-1customers] customers] at atany any given giventime timeto tomake makeaaviable viablebusiness businessproposition propositionfor forGM GM to topursue pursuelong-term." long-term." -GM -GMspokesman spokesmanDave DaveBarthmuss, Barthmuss,Washington WashingtonPost, Post,3/10/05 3/10/05 “The “Thecar car never never had hadappeal appeal beyond beyondaacore coregroup groupof of technology technology enthusiasts enthusiastsand and environmentalists.” environmentalists.” 4 © 2006 Tesla Motors Inc.

Proprietary And Confidential Performance Electric Cars Tesla’s Customers People Peoplewho whowant want performance performance and and also alsocare careabout about oil oilconsumption consumption  Performance  Cool technology 5 And  The environment  National security © 2006 Tesla Motors Inc. Proprietary And Confidential Tesla’s Performance Electric Cars 0 MPG: 10 20 30 40 50 60 70 80 90 100 110 Dark Star Porsche Carrera GT Performance Electric Cars 2 Lamborghini Murcielago 4 Saleen S7 High performance sportscars 6 Porsche 911 Turbo Coupe Ferrari Maranello Chevrolet Corvette Z06 Lotus Esprit V8 8 High Performance Acceleration from 0 to 60 mph ( Sec.) Dodge Viper SRT-10 10 12 Panoz Esperante Nissan 350Z High Mileage cars Toyota Celica Nissan Maxima Ford Taurus Toyota Camry 14 Subaru Legacy Honda Civic VX 16 VW Jetta Diesel High Mileage Honda CNG (nat. gas) 18 0.0 0.2 0.4 0.6 0.8 Well-to-Wheel Energy Efficiency (km/MJ) 6 1.0

1.2 Honda FCX (fuel cell) Toyota Prius (hybrid) © 2006 Tesla Motors Inc. Proprietary And Confidential The Tesla Roadster The definition of a Performance Electric Car Tesla TeslaMotors Motorsdesigned: designed:  50 50kWh kWhlithium lithium ion ionbattery batterypack pack 185 185kW kWAC ACinduction inductionmotor motor  Power Power Electronics ElectronicsModule Module  Carbon Carbonfiber fiber body body  Bonded, Bonded, extruded extrudedaluminum aluminum chassis chassis 0-60 0-60mph mphacceleration: acceleration:<4 <4seconds seconds EPA EPAhighway highwaydriving drivingrange: range: >250 >250mi. mi. Well-to-wheel Well-to-wheelefficiency: efficiency:>135 >135mpg mpgequivalent equivalent Driving Drivingcost: cost: About About 11penny pennyper per mile mile Charging Charginginfrastructure: infrastructure: existing existingelectric electricservice service 7 © 2006 Tesla Motors Inc. Proprietary And Confidential Project White Star Tesla’s Sport Sedan

Target Performance Comfortable for 4 or 5 adults Target Performance Low mass  0-60 0-60mph mphacceleration: acceleration: <6 <6seconds seconds  Well-wheel Well-wheelefficiency: efficiency: >110 >110mpg mpgequivalent equivalent  EPA EPAhighway highwaydriving driving range: range: >250 >250mi. mi. Low Base model Base model<< $50,000 $50,000 aerodynamic drag Car 0-60 Car 0-60Time Time Mercedes 4.5 MercedesE55 E55AMG AMG 4.5Sec Sec☺ ☺ BMW 5.7 BMW545i 545i 5.7Sec Sec☺ ☺ Lexus GS 5.9 Lexus GS430 430 architecture 5.9Sec Sec☺ ☺ EV-optimized Toyota 10.4 ToyotaPrius Prius 10.4Sec Sec  White 5.7 WhiteStar Star 5.7Sec Sec☺ ☺ 8 Gas GasMileage Mileage 17 17mpg mpg  20 20mpg mpg  20 20mpg mpg  55 55mpg mpg☺ ☺ Performance ~110 ~110mpg mpg ☺ ☺ from Dark Star drivetrain © 2006 Tesla Motors Inc. Proprietary And Confidential Tesla Motors Status 9 © 2006 Tesla Motors Inc. Proprietary And Confidential Tesla Motors Status •

Founded July, 2003 • Raised $60M through individuals and Venture Capital firms • 120 employees worldwide (and hiring!) Tesla Motors Inc. 1050 Bing St. San Carlos, California Rendering Tesla Motors Customer Center Santa Monica Blvd Los Angeles, California (3 more coming soon) Tesla Motors Ltd. Hethel Norfolk, UK Tesla Motors Taiwan Ltd. San Chung City Taiwan 10 © 2006 Tesla Motors Inc. Proprietary And Confidential Roadster Status Currently in engineering prototype phase • FMVSS Collision testing • Durability testing • Performance testing • Supplier qualification Validation phase scheduled for early ’07 11 © 2006 Tesla Motors Inc. Proprietary And Confidential Roadster Status Production scheduled for Q2 ’07 • Motor assembly by Tesla in Taiwan • Battery assembly by Tesla in Thailand (!) • Component suppliers from around the world • Final assembly by Lotus Cars in the UK 12 © 2006 Tesla Motors Inc. Proprietary And Confidential Roadster Status

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Pre-sales started: 19 July 2006 • $100K for fully-optioned cars • 100% deposit for most; 75% deposit for later cars • Approximately 170 cars sold already • Model Year 2007 almost sold out 13 © 2006 Tesla Motors Inc. Proprietary And Confidential White Star Status • Vehicle technical specification complete • Feasibility study complete • Preliminary vehicle architecture complete • Chassis and body technologies chosen • USA factory site location study underway • Production anticipated for first half of 2009 14 © 2006 Tesla Motors Inc. Proprietary And Confidential Tesla Motors Status Wide press coverage • Wired Magazine • The Economist • The Robb Report (cover) • Popular Mechanics • Forbes • CNET • The New York Times (news and editorials) • The San Francisco Chronicle (front page) • The San Jose Mercury News (several) • Los Angeles Times • LA Weekly • The Detroit News •The Washington Post • USA Today • Newsweek • Red Herring

• Motortrend Magazine • Road and Track Magazine • Car and Driver Magazine • NPR Marketplace • CBS Evening News • msm Autos • CNBC • BBC Radio 4 • The Guardian • Jalopnik 15 © 2006 Tesla Motors Inc. Proprietary And Confidential Charging Standard 16 © 2006 Tesla Motors Inc. Proprietary And Confidential ACE Charging System • License-free, open standard • Designed for safety, durability, and ease of use • NRTL approval through CSA; listed product • Based on SAE 1772 AC charging protocol • Conductive charging: efficient, low-cost equipment • 70-amp 110 – 240 volt charging for quick (17 kW) charges • Connector based on sturdy Amphenol military connector • Hard-wired EVSE and mobile charging modes • Connector cost: about $40 per side Contact Tesla Motors for information 17 © 2006 Tesla Motors Inc. Proprietary And Confidential Technology Comparison 18 © 2006 Tesla Motors Inc. Proprietary And Confidential Right Questions Q:

What is the net resource consumption per mile? Q: What are the carbon emissions per mile? Q: What is the net reduction of petroleum usage? 19 © 2006 Tesla Motors Inc. Proprietary And Confidential What about Fuel Cells? Q: How many miles will one unit of electricity power a car? Coal Photovoltaic Electric Energy Storage Natural Gas Wind Turbine Electricity Diesel Hydroelectric Storage efficiency = Electricity in Electricity out Electricity Electric Drive Motor X miles Nuclear Geothermal 20 © 2006 Tesla Motors Inc. Proprietary And Confidential What about Fuel Cells? Q: How many miles will one unit of electricity power a car? H2 Production H2 Fuel Cell Car Electric Energy Storage Storage efficiency =25% 1 MWh Electricity Electrolysis Compression H2 Fuel Cell 70% efficient 90% efficient 40% efficient Electricity Electric Drive Motor 1440 miles Battery Electric Car Electric Energy Storage Storage efficiency =85% 1 MWh Electricity Charger Li Ion Battery

92% efficient 93% efficient 4900 miles Electricity Electric Drive Motor A: An electric car will go more than 3 times as far as a fuel cell car 21 © 2006 Tesla Motors Inc. Proprietary And Confidential What about Ethanol? Q: How many miles will one unit of biomass power a car? Energy Conversion biomass 22 Car Energy Conversion Biomass efficiency = miles driven Ton of biomass X miles © 2006 Tesla Motors Inc. Proprietary And Confidential What about Ethanol? Q: How many miles will one unit of biomass power a car? Ethanol Production Ethanol ICE Car Energy Conversion Biomass efficiency = 2900 miles / ton 1 ton of biomass Enzymatic Ethanol Production IC Engine 50 miles per gallon 2900 miles 58 GGE / ton1 Electricity Production Electric Car Energy Conversion Biomass efficiency = 4900 miles / ton 1 ton of biomass Gasification Combined Cycle Electric Generation Electric car 4.9 miles / kWh 4900 miles 1000 kWh / ton2 A: An electric car will go almost twice as

far as an ethanol car 1. Iogen enzymatic process, gallons of gasoline equivalent 2. Southern Company Services 23 © 2006 Tesla Motors Inc. Proprietary And Confidential What about Ethanol? Q: How many miles will one unit of land power a car per year? Fuel Production land 24 Car Energy Conversion land efficiency = miles driven acre of land X miles © 2006 Tesla Motors Inc. Proprietary And Confidential What about Ethanol? Q: How many miles will one unit of land power a car per year? Cellulosic Ethanol Production Ethanol ICE Car Energy Conversion land efficiency = 58,000 miles per acre 1 acre of farmland Miscanthus Farming 20 tons / acre per year1 Enzymatic Ethanol Production 58 GGE / ton2 Electricity Production IC Engine 50 miles per gallon 58K miles Electric Car Energy Conversion Land efficiency = 4900 miles / ton 1 acre of desert land Concentrating PV Installation 380 MW / acre3 per year Electric car 4900 miles / MWh 1862K miles A: An electric car will go 32

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times as far as an ethanol car 1. Vinod Khosla 2. Iogen enzymatic process, gallons of gasoline equivalent 3. Pinnicle West Capital Corporation 25 © 2006 Tesla Motors Inc. Proprietary And Confidential Best-Case Cellulosic Ethanol The Ideal Solution? Today’s Corn-based Ethanol Photovoltaic What area is required to offset 50% of miles driven in US (2001)? 26 © 2006 Tesla Motors Inc. Proprietary And Confidential What about Biodiesel? Q: How many miles will one gallon of biodiesel power a car? Biodiesel 27 Energy Conversion efficiency = miles driven Gallon of biodiesel X miles © 2006 Tesla Motors Inc. Proprietary And Confidential What about Biodiesel? Q: How many miles will one gallon of biodiesel power a car? Diesel Car Energy Conversion efficiency = 38 miles per gallon Diesel Engine1 1 gallon biodiesel 38 miles per gallon Electricity Production 38 miles Electric Car Energy Conversion efficiency = 89 miles per gallon 1 gallon biodiesel Diesel generator

18.21 kWh per gal2 Electric car 4.9 miles per kWh 89 miles A: An electric car will go more than twice as far as a diesel ICE car 1. 2006 Diesel Beetle 2. e.g. Anguilla Electric Company, 2001 average 28 © 2006 Tesla Motors Inc. Proprietary And Confidential Conclusion Whatever the resource, we must use it as efficiently as possible  Fossil fuel  Green electricity  Biomass  Land 29 © 2006 Tesla Motors Inc. Proprietary And Confidential "The best way to predict the future is to invent it." - Alan Kay 30 © 2006 Tesla Motors Inc. Proprietary And Confidential