Tesla Motors, Inc. (NASDAQ: TSLA) is manufacturer of electric cars as well as powertrain components for electric vehicles. Tesla Motors became quite popular in the United States after launching its Tesla Roadster, the first complete electric car. Tesla followed it up with the Model S, a full-sized premium electric sedan.
The Tesla motor cars have been well-accepted in the market. Marc Tarpenning and Martin Eberhand established Tesla motor cars in July 2003. Elon Musk joined the board of Tesla Motors in February 2004. Musk was planning to commercialize electrical vehicles even during his college days. He wanted to take the electric cars to the masses as an alternate to gas and fuel cars to ensure a cleaner environment.
In fact, Simon Hacket participated in the annual Global Green Challenge conducted by Australia on October 27, 2009 with Tesla Roadster. By driving the car through the complete 313 mile or 504 km segment of the tournament in a single charge, he proved the superior capabilities of Tesla motor cars. MotorTrend editor, Kim Reynolds, accepted that that acceleration of the Roadster was breathtaking.
The goal of Musk and Tesla Motors was to create affordable electric cars for mass markets to reduce fuel and gas consumption. When Musk completed the design of the Tesla Roadster in 2006, Mikhail Gorbachev presented the product design award of Golden Green 2006 to him. Musk was also instrumental in raising the necessary finance for Tesla motor cars production through several rounds of external finances.
The analysts noted that the luxury sedan car market gained 10.4% from the beginning of 2013 until May. They observed that this figure would be just 0.8% if the Model S sales were excluded in this period. According to them, the strict regulatory provisions for zero emission in the United States as well as many other countries have been boosting sales of electric cars and Tesla would be a major gainer.
This low interest rate loan to produce Tesla motor cars was not like the bailout programs that GM and Chrysler received. In May 2013, Tesla Motors completely repaid the U.S. government loan, the first car company to do so. Others like Ford, Fisker, and Nissan are yet to repay the loans they received under this program.
The Tesla motor cars have been well-accepted in the market. Marc Tarpenning and Martin Eberhand established Tesla motor cars in July 2003. Elon Musk joined the board of Tesla Motors in February 2004. Musk was planning to commercialize electrical vehicles even during his college days. He wanted to take the electric cars to the masses as an alternate to gas and fuel cars to ensure a cleaner environment.
In fact, Simon Hacket participated in the annual Global Green Challenge conducted by Australia on October 27, 2009 with Tesla Roadster. By driving the car through the complete 313 mile or 504 km segment of the tournament in a single charge, he proved the superior capabilities of Tesla motor cars. MotorTrend editor, Kim Reynolds, accepted that that acceleration of the Roadster was breathtaking.
The goal of Musk and Tesla Motors was to create affordable electric cars for mass markets to reduce fuel and gas consumption. When Musk completed the design of the Tesla Roadster in 2006, Mikhail Gorbachev presented the product design award of Golden Green 2006 to him. Musk was also instrumental in raising the necessary finance for Tesla motor cars production through several rounds of external finances.
The analysts noted that the luxury sedan car market gained 10.4% from the beginning of 2013 until May. They observed that this figure would be just 0.8% if the Model S sales were excluded in this period. According to them, the strict regulatory provisions for zero emission in the United States as well as many other countries have been boosting sales of electric cars and Tesla would be a major gainer.
This low interest rate loan to produce Tesla motor cars was not like the bailout programs that GM and Chrysler received. In May 2013, Tesla Motors completely repaid the U.S. government loan, the first car company to do so. Others like Ford, Fisker, and Nissan are yet to repay the loans they received under this program.
About the Author:
The Tesla Model S is a game changer for the auto industry. It will change the way we think about cars and performance.
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