Palo Alto-based Tesla Motors was set up in 2003 with the aim of mass-producing eco-friendly electric cars. The first such battery-operated model — which averaged 400 km on a single charge — was the Tesla Roadster, now not currently in production. Today, the company ships the more popular Model S, an electric hatchback, which costs upwards of $70,000. In order to make electric cars more feasible for buyers, Tesla has set up several charging stations across the US, where car-owners can stop for a quick recharge. The company currently produces 500 vehicles a week, but prices are still beyond the average consumer’s reach, though it hopes to soon offer models in the $30,000-$35,000 range. The automaker plans to deliver about 6,000 vehicles in the fourth quarter of this calendar year, thus bringing the annual sales tally to 21,500 units. The company still has a long way to go: Tesla’s quarterly numbers are equivalent to what Ford Motor clocks in a single day.
Silicon Valley's Hottest Innovation
You don’t want to be left behind. Do you?
Our work is exclusively for discerning readers. To read our edgy stories and access our archives, you’ve to subscribe
Prathamesh Mulye - August 16, 2018
How far did Baba Ramdev stretch to bag Ruchi Soya?
V Keshavdev - June 05, 2020
Virtual door to good fortune
Shailaja Mohapatra - June 29, 2020
Why Ashish Kacholia, Mukul Agrawal and Kedaara Capital are hot on Religare Enterprises
Anishaa Kumar - July 16, 2020
Tulsi Tanti built his empire on 'soojh-boojh', loans and one other secret ingredient
Krishna Gopalan - July 17, 2020