Tesla Model S Under Development, Chevy Volt Rolling Out Soon
Tesla motors first entrée into the electric car market was the high-end Tesla roadster. The company sponsored by Toyota and Daimler, posted a $34.2 million loss this quarter as it invests heavily in the startup and production of its Model S sedan.
Just two weeks ago Tesla opened the car factory where it plans to produce the Model S starting in 2012. Tesla got a deal on the plant, which it purchased from Toyota for only $42 million.
At this point, the company is all about development and production. Sales will have to wait. Elon Musk, Tesla’s CEO said that they would not be aiming for quarterly profitability over the next nine quarters. Instead, he said, their focus is on the long-term financials of the company.
The Model S is expected to sell for $57,000.
Meanwhile, the Chevy Volt hybrid electric car is making waves because of its ability to go the distance. The hybrid can travel 35 to 50 miles on battery power and is assisted by a gas powered generator after that to be able to go an additional 250 miles. This gives the Volt a range that is equivalent to most gasoline powered vehicles. Consumers who use the car for a short, daily commute, may never have to use the gas powered feature. But not having to worry about getting stranded because you ran out of juice is a powerful feature of the new vehicle.
The Volt will retail at $41,000, and a federal tax credit will knock an additional $7500 off the price. This level of cost for the new hybrid still leaves it rather pricey. A recent survey showed that while most people would be interested in an electric car, the vast majority are not willing to pay much more than they would for an equivalent gasoline vehicle.
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