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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

With Tesla 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 profits soar (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.”

Source: The Detroit News

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EV for the masses
By StormyKnight on 5/29/2013 1:47:27 AM , Rating: 2
If Musk wants to sell EVs to the general population, he has to price it competitively with ICE vehicles. Not only priced competitively, but also can compete with ICE vehicles as well. No ifs, ands or buts. I have a 2013 Malibu LT2. I drive conservatively and average between 31-34mpg combined. Granted, that is 85% highway driving, but it gives me roughly 573 to 629 miles per fill up. You come at me with a mid-sized electric sedan at or under $25,000 with the same range as my ICE Malibu, you have my business. Until then, EVs are merely electric toys for greenie wealthy types.

RE: EV for the masses
By I800C0LLECT on 5/29/2013 2:22:53 AM , Rating: 2
2012 Passat TDI SE, starting at $26,225

One couple achieved ~1600 miles and 84.1mpg on a single tank.

2012 Fuelly averages are 40.1mpg and 2013 are 39.9mpg

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