Tesla Motors (NASDAQ: TSLA) is a front-runner in the electric automobile industry and they are leading the charge in making electric vehicles an efficient and cost-effective mode of transportation. While Tesla’s most affordable vehicle, the Model S, comes with a $70K price tag, this is only the first few steps in what will become a larger range of battery powered, electric vehicles from luxury to economy models.
Tesla Motors began as a company in 2003 and made their mark by producing the world’s first all-electric sports-car, the Tesla Roadster. This was the first step in proving to the world that battery powered, electric vehicles can be fast, fun and stylish. Even though the roadster is an expensive vehicle with a six figure price tag, it proved a concept and allowed for the building of more functional and affordable all-electric vehicles.
In 2009, Tesla released the Model S luxury sedan, a vehicle, with a 200+ mile range. The Model S was a vehicle that was suited more for everyday use than the Roadster including the daily commute to work and trips to the grocery store. As of March 2013, Tesla has delivered almost 10,000 electric vehicles to customers in 31 countries and counting. Most recently, Tesla has provided a look at the next in the vehicle lineup, the Model X, a crossover SUV with unique falcon wing door’s that will be available for purchase in 2014. Aside from these models, ideas are already in the works for an even more economic vehicle with an estimated price tag of $30K and an all-electric truck to add versatility and utility to the electric vehicle line-up. In addition to its actual product line, Tesla Motors also sells electric power train parts and battery technology to other automobile manufacturers including, Mercedes-Benz and Toyota.
To date, Tesla’s Model S has received a 5-Star safety rating and is deemed by the Consumer Report as “…the best car it has ever tested.” It even won this year’s Motor Trend Car of the Year award. In addition to creating electric vehicles that are stylish, efficient and are effective means of transportation, Tesla Motors is building a network of fast charging “super-chargers” across the U.S. and Europe. These super-chargers provide free electricity to all Model S owners at fast charging rates to recharge their car’s battery packs, thus easing the stresses of range-anxiety.
Tesla Motors is a company that is on the up and up. Its stock is up over 400% (NASDAQ: TSLA) and climbing. It has a market valuation of $20 Billion, and it is maxing out its U.S. based production capacity as it works to keep up with the intense demand for its wildly popular Model S. As it plans to expand sales overseas, and roll out its latest model, the Model X, Tesla is fortifying its position as the leader in designing and manufacturing the best overall electric vehicles in the market.
The CEO and the leader behind the success of Tesla Motors is Elon Musk. Musk as many know, is also the founder and CEO of the private aerospace company, SpaceX, the Chairman of the solar power provider, SolarCity and the co-founder of Paypal.
See GOOD BUSINESS’ article on SpaceX and their revolutionary spacecraft HERE.
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