Today in Cleantech

Marketwatch reported last night that reservations for Tesla’s Model S have reached 11,000 in the days after its release. Tesla intends to ship 5,000 this year and 20,000 next year, though the company has said it needs to sell just 8,000 cars next year to break even. Analysts are happy with the release and Needham’s Michael Lew moved his 2013 revenue target from $1.35 billion to $1.48 billion with gross margins around 25 percent. A core of analysts are fairly confident that the company is going to be doing about 5,000 reservations a quarter though Tesla has acknowledged some cancellations. The share price is yet to get a bounce from the Model S release though it saw a small run leading up to the Model S release and I expect investors are waiting for initial figures on early sales, not just reservations. It’s also conceivable that investors got a tad spooked by news that Daimler, Tesla’s third largest shareholder, had pared back it’s Tesla holdings and sold about a hundred million dollars of its stake in Tesla. But if sales remain strong and the recall issues that have impacted other first generation EV makers like Fisker can be avoided, the stock should see a bounce.