Invest

how to invest

Live

career, food, travel

Save

saving, credit, debt

Protect

insurance, security

Retire

401K, IRA, FI, Retire

Home » Auto Ownership, Eco-Friendly Savings

Tesla Motors 100% Electric Sedan Model S Coming Soon!

Last updated by on 8 Comments

The Tesla S Model

I’ve been a pretty big proponent of electric vehicles on this site in the past, and was absolutely giddy over the specs on the 100% electric Tesla Roadster, made by Tesla Motors. Electric vehicles will be a major solution to U.S. oil dependence, global warming, and when priced to scale, they should save consumers a ton of money on fuel and upkeep.

Admittedly, electric vehicles are still a few years away from being a realistic solution in a financial sense for most consumers. To that end, I was very excited to see Tesla put out a press release on Tuesday announcing that they are moving forward in creating a new headquarters and manufacturing plant in San Jose, California. They’ll also be producing a much more affordable sedan, the Tesla S.

Tesla S

Here are some highlights and thoughts on the press release and what it means to the everyday consumer:

“It is our intention to service the entire market,” CEO Ze’ev Drori said in an interview with The Associated Press. “We are not a niche player.”

This is great news. I like the fact that Tesla is thinking big, which will force the behemoth auto manufacturers to move quicker. If you haven’t noticed, they have been dragging their feet for decades.

While its $60,000 price tag still clearly marks the Model S as a luxury vehicle, the five-seater will cost at least 45 percent less than the Tesla Roadster, which starts at $109,000.

$60,000 is still a steep price to pay, but it is a huge step in the right direction for the average consumer.

The San Jose factory will also produce many more cars than the Roadster’s planned run of 1,500 for the 2009 model year. The company wants to roll the first Model S off the San Jose assembly line during the fourth quarter of 2010 and expects to build 15,000 during its first year of production, Drori said.

Three years ago, who would have thought an electric vehicle would be mass produced by any automotive company, let alone one in the United States that isn’t Ford, GM, or Chrysler. Times are a changin’.

Tesla S Model Vs. Chevy Volt

Chevy Volt

GM’s Chevy Volt

The Chevy Volt has received a lot of press lately as well. It is GM’s electric vehicle and is set for release in 2010. The main difference between the Chevy Volt and Tesla’s cars is that the Volt has an internal combustion engine that kicks in if the battery needs to be recharged while on the road.

Whereas Tesla’s vehicles are said to get 220 miles on a single charge, the Chevy Volt only gets 40 before the engine kicks on. A price tag has not been placed on the Volt yet, but analytics are predicting it will be $40,000. Is Tesla’s battery technology ‘that good’ (180 more miles per charge), or is the Volt going to be much cheaper by intentionally limiting the size of its battery in comparison to the one Tesla is using.

Even though these are slightly different cars it is great to see that there will be some competition in the marketplace with U.S. made electric vehicles. If history repeats itself, the foreign automakers won’t be far behind.

Tesla S Discussion:

  • How much extra would you pay for your vehicle if it had an electric engine versus a gas?
  • Would you be in the market for a Tesla vehicle or a Volt?
  • Is the moral motivation to buy an electric vehicle incentive enough to outweigh the obvious cost limitations?

Related Posts:


About the Author
I am G.E. Miller, & this is my story. My goal is financial independence ASAP. If you share that goal, join me & 7,500+ others by getting FREE email updates. You'll also find every post by category & every post in order.


8 Comments »
  • allen says:

    My major problem with electric cars, is that no one seems to be thinking about the fact that a huge % of the US population, let alone the world, will NOT be able to get them. Reason? Where do you plug it in, if you don’t have a garage?

    I live in a condo complex, because i can’t afford a house in the city i live in. It has lot parking. there is NO way you could have plugs put in all over for that, and have some fair way to charge those cars. What about all the people who have to have street parking?

    Until this major hurdle is addressed in SOME way, I care not one iota for the electric car. (other then thinking about how COOL it sounds!)

  • scott says:

    FYI, it’s not the Tesla “Sedan S Class” but rather the Model S. It’s right there in press release. The S-Class is a Mercedes, as no doubt you know.

  • Craig says:

    I agree with Allen. Right now I live in an apt and would not be able to recharge my car everyday. I think the concept of the electric car is a good idea to help become less dependent on oil, but the reality is we are probably a good 15-20 yrs away from any serious progress in these becoming mainstream. People love their cars and even with an option, most would probably have their reasons to stay with their gas fueled cars. Hybrids are becoming more popular, but by no standards would I call them mainstream. It’s nice to see car companies working on alternative methods, but these concept cars are really more of ideas than realities right now.

    Craig

  • Traciatim says:

    1) None. I live in Canda and electrics are not practical here. Once you try A) Running a car on 50% power because batteries suck in teh cold. B) Defrosting windows and C) Heating a Cabin with no waste heat from an engine you realize your 220 miles will be more like 50 miles. SO you will have to be VERY careful where you drive. Oh, and add in teh resistance of trying to drive through snow… 40 miles.

    2) No

    3) No

  • G.E. Miller says:

    @ Allen, Craig – I agree with you to some extent, but I do think that we can adapt. 100 years ago the primary mode of transportation was horseback, there were no gas stations, and zero paved roads. If we can put a man on the moon, we can put electric converters at people’s dwellings.

    @ Scott – good call, missed that originally.

    @ Tomas – great link, updated the post pic.

  • Mira says:

    With today’s economic situation world will put this electrocar idea away for a long while..

  • Electric Car Enthusiast says:

    Tesla has been the leader of high end pure electric car with the Tesla Roadster. The model S seems to cater for the mass market.

  • linus says:

    Tesla cars are my favourites, a mix of power and 0 pollution… I just read about a car by Peugeot, I guess it’s just a prototype, that can reach 0-60 mph in just 3.3 seconds !

SPEAK YOUR MIND

Enter your:


Home | Sitemap | Terms | © 20somethingfinance.com