#1TESLA Investor Presentation T#2Best of Silicon Valley & Auto Elon Musk CEO - Product Architect JB Straubel CTO Franz Von Holzhausen Gilbert Passin Chief Designer VP - Manufacturing Deepak Ahuja CFO Arnnon Geshuri VP - Human Resources Peter Rawlinson George Blackenship VP & Chief Engineer SVP - Sales Jim Dunlay VP - Hardware John Walker VP - NA Sales T Ricardo Reyes VP - Communications Cristiano Carlutti VP - EU Sales#3Engineering Team Growth 450 400 350 300 250 200 150 100 50 0 Q1-10 Q2-10 Powertrain Engineering Vehicle Engineering Includes employees and contractors Q3-10 Manufacturing Engineering T#4Toyota $50M investment at IPO Executed $9M contract for RAV4 EV Executed development contract • Developing full integrated powertrain with battery, charger, motor, gearbox and control software Expecting revenue of $60M RAV4 EV Development progressing ● Delivering early prototypes since July Prototypre revealed in November at LA Auto Show Negotiating supply agreement for production of RAV4 EV TOYOTA GULHE T ESLA T TOYOT#5Panasonic $30M investment in Q4 2010 Builds Upon long standing relationship No requirements to use Panasonic cells exclusively Custom 18650 automotive cell in development Improved cycle life Improved Performance • Improved safety Lower cost ● ● Tesla leads the auto battery pack industry. We are honored to be working with them Munhesha Ikoma, Panasonic CTO Panasonic T sonic Panasonic Lithium ion Panasonic Lithium Panasonic Line#6Daimler Smart for two electric drive ● ● Mercedes A Class electric vehicle ● ● Order for 1500 vehicles Shipping production battery packs and chargers since late 2009 ● Order 500 vehicles expected Completed all development milestones in Q4 2010 Now shipping production battery packs and chargers Denz Museum electric drive tredir 15 12.5 10 7.5 5 2.5 0 Q1 Overall Sales to Daimler Q2 Million USD SEV 1069 Q3 T electric drive#7Roadster Leading the Way TESLA Over 1400 Roadsters on the road in 31 countries TESL New stores in Tokyo, Copenhagen, Milan, Newport Beach and Paris. TOSLA T Over 8 million miles driven#8Tesla Model S 20K Units Annualy - 1% Share of Premium Global Market#9In a class of its own T Features - More cargo than any other sedan - 5 star crash rating - 17 inch 3DFX touch screen computer - 4G Wireless connectivity - Applications Platform Performance - Up to 300 miles per charge · 45 minute quick charge - - Rapid battery swap -0-60 mph under 6 seconds - Exceptional handing T#10Cumulative Model S Reservations 3500 3000 2500 2000 1500 1000 500 0 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Note: Sales team not actively focused on getting Model S reservations minimum $5000 reservation price T#11Platform for Broader Market Opportunity Sedan Common Powertrain Adaptable Common Platform Cabriolet Van T Crossover/SUV Revolutionary Packaging#12Progressing on Model S 2010 ● • Alpha Build • External body design & engineering • Safety and structural design • Supplier Sourcing • Site Preparation ● ● ● ● ● 2011 Beta Build Crash test program begins Stamping Facility Online Paint Shop Operational Instalation of Tooling equipment ● ● 2012 Production Validation Release candidate build Deliveries begin#13Fremont Facility Offices Final Assembly Body In White Material Handling Planned Model S Facilities* Press Shop Truck Paint Shop Plastics Future Programs T • Purchase price $42MM · • Historical annual capacity of over 400,000 units. • Proven facility used until recently to produce high quality cars ● Offers several advantages for Model S production • Ideal for Gen III EV#14Strategic Asset Purchases BTR1 11 Cranes Car Paint 3A Stamping Line 1B Stamping Line Blanking Line Truck Paint T#15Fremont Facility ● Ownership transfer complete • Legacy equipment removal on schedule Executing on detailed plans with suppliers in each shop (stamping, body, plastics, paint and final assembly) ● ● ● Manufacturing equipment arriving Preparing facility and processes for prototype builds in 2011 STAMPING MACH Chassis 1 T Delivery#1641531 l