Tesla to Release Affordable EV in 3-4 Years, Talks Future Buyout
May 27, 2013 9:45 AM
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Tesla wants to release a quality, yet affordable EV (unlike the Nissan Leaf)
Now that Tesla Motors has
freed itself of federal debt
, many are wondering, "What's next for the automaker?" According to its CEO, creating a quality electric vehicle that is also affordable is the main goal.
Tesla CEO Elon Musk said that his company's Model S is a great EV, but it's a luxury car that is out of the price range of many consumers. He compared it to the Nissan Leaf, which is an affordable EV, but lacks quality (in Musk's opinion).
“With the Model S, you have a compelling car that’s too expensive for most people,” said Musk. “And you have the Leaf, which is cheap, but it’s not great."
Musk said the ideal affordable Tesla EV would be available in about three to four years, and would be sold for under $40,000 USD. It would also have a range of about 200 miles per charge.
Tesla CEO Elon Musk
paying off its $465 million federal loan
from the U.S. Department of Energy (DOE) an entire nine years earlier than expected last week, some suspected that Tesla's next move would be an acquisition by larger companies like Daimler AG and Toyota Motor Corp. Daimler AG has 4.87 million Tesla shares valued at $425 million and Toyota has 2.94 million shares valued at $257 million.
While Musk recognizes that an acquisition is possible in the future, he doesn't see his company being sold to another automaker.
“Tesla just seems very expensive [to other automakers],” said Musk. "I’d guess it would come from outside the auto industry. It would be a buyer with a very large cash position."
Musk said Apple is a large company that could qualify as a suitable buyer for Tesla at some point.
However, Musk isn't selling anytime soon. He wants to stick around to continue selling Tesla's popular Model S sedan (the company sold 4,900 in the first quarter), seeing
(Tesla's profit came in at 12 cents a share for Q1, which was a boost from a loss of 76 cents a share in Q1 2012) and developing the affordable Tesla EV.
"What the world really needs is a great, affordable electric car," said Musk. "I’m not going to let anything go, no matter what people offer, until I complete that mission.”
The Detroit News
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5/28/2013 8:25:44 AM
I think it is affordable. And I am not a billionaire. Or even a millionaire.
A stinkin Chevy Volt is $42,000 where I live (Canada).
Shit, you are gonna drop $40k for a shitty little
(with the tech package -
So Yes, I call $40,000 for a
quite affordable sir!
Just as an aside: I spotted a Tesla Model S parked on the road the other day. It was one damn sweet ride and quiet as a ghost. The techie in me had wet dreams over it.
5/28/2013 9:10:40 AM
You disqualify yourself by revealing you're from Canada. ;)
$40,000 is what middle class people currently pay for minivans and SUV's. I seriously doubt that Tesla is going to come out with a $40K e-SUV or e-minivan. More than likely, we're talking a compact to mid-sized car, like the Chevy Volt.....which is already a decent car, in the price range Tesla is referring to.
Affordable mid-sized cars will still sit in the $20,000 to $30,000 price range, NOT $40,000.
5/28/2013 10:57:31 AM
its so refreshing to see someone logical enough to see that a 40k ev is NOT affordable. as much as ppl love to talk about EV being better for the planet and blah blah blah but ultimately ppl care about price points. someone here pointed out how expensive the prius and volt is and guess what, thats the exact reason why ppl would question this EV, its too expensive.
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