Telsa Motors Inc has released what Consumer Reports magazine rates could be best electric-car on the market. We’ve heard over the years electric cars will soon be taking over our roads. Fuel will be a pastime and our grandchildren will laugh hearing stories of the rise and fall of gas prices. The latest car company, Telsa Motors Inc, has many heads turning with curiosity and excitement.
Telsa released their first electric car, Model S, which overall, was expected to fail. The first model did surprisingly well, making Telsa the talk of the industry. Its first quarterly sales skyrocketed. The company’s shares reached a high of $75.77, blowing their first public offering price of $17, out of the water. Others still remain hesitate on whether or not the ten-year-old car company has what it takes to be successful. Many are concerned with the price of the Model S, coming in around $70,000 (before federal tax credit). To some people earning a six-figure income each year, this price is reasonable. Realistically, a blue-collar family may not be willing to invest in the growing company.
Tom Gage, former CEO of AC Propulsion says, “One good car does not a car company make, unfortunately. They have to continue to grow by orders of magnitude before they become a real car company.” Gage developed the drive train for the Roadster, Tesla’s first model.
Luckily, Telsa has a more cost-efficient model due to be released next year. The Model X crossover will be easy on the wallet and people won’t feel as if they’re dropping their life savings on the car. Due to be released in 2017, the third generation car is estimated between $30,000 and $35,000. Sounds more reasonable, right?
The company seems to be heading in the right direction as far as style and technology is concerned. Telsa uses lithium-ion battery cells, which can be found in almost all electric devices today. Because costs for the battery are rather high, the company is still working on ways to keep prices low for their car.
Consumer Report magazine says the Model S “performed better or just as well overall as any other vehicle, of any kind, ever tested by CR.” Many consumers of the Model S are greatly satisfied with the electric car. David Cowan, a venture capitalist in Silicon Valley, owns a Model S and a Nissan Leaf. In comparison he says, “She completes me and I’ve never been a car person”, referring to his Model S.
Whether or not Telsa Motors Inc becomes the next leading car company remains to be seen, but as it currently stands, Consumer Report has great expectations for the electric car.