How “Model E” Is Exciting Tesla Motors Inc (NASDAQ:TSLA) Investors?

Posted by Lynn Eisler October 24, 2013 0 Comment 1220 views

There is a great amount of buzz around Tesla Motors Inc (NASDAQ:TSLA)’s 3rd-generation vehicle offering and the price is one major factor that is generating all this interest. The vehicle has a potential starting-price of $35,000 for a 200-mile range and there is some talk that it will be available in crossover and sedan variants. This is one EV that definitely has the potential to take the market by storm.

The Model S was and is a definite crowd-puller and if this vehicle is able to garner as much interest, Tesla Motors Inc (NASDAQ:TSLA) would be able to push the maximum production-capacity of its factory to 500,000 units/year. There is a distinct possibility that this will prod conventional carmakers to consider transitioning away from internal-combustion engines.

The shining star

There is some news that this new vehicle which was originally dubbed “Blue Star”, will be called the Model E and that customer-deliveries will take place latest by 2017. The company’s CEO said that at the moment, the 3rd generation car is on the draft-board and it should move into the clay model stage by mid-2014 and the prototype will be completed 6 months post that. He added that the first glimpse should come in by the 2015Q1.

Wednesday’s trading

Tesla Motors Inc (NASDAQ:TSLA) is engaged in designing, developing, manufacturing and selling EV’s and advanced EV powertrain components. In Wednesday’s trading, Tesla Motors Inc (NASDAQ:TSLA) dropped by 4.10%. The opening price of the shares was $168.91, which climbed to an intraday high of $171.81 and dipped to a close of $164.50.

Approximately 13.33 million shares were traded on Wednesday while an average volume of 9.87 million shares were traded over a 30 day period. The 52-week low of Tesla Motors Inc (NASDAQ:TSLA) shares is $27.02 and its 52-week high is $194.50. The company has a market capitalization of $19.98 billion.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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