On Tuesday, Shares of Tesla Motors Inc (NASDAQ:TSLA), lost -0.72% to $246.65.
After a two-year delay, Tesla has unveiled a brand new SUV, the Model X.
Electric vehicle maker Tesla Motors has mastered the sporty two-seater and the elegant sedan. Now, it wants to conquer the family hauler. AP
Teslas Model X — one of the only all-electric SUVs on the market — was officially unveiled Tuesday night near the companys California factory. SUVs were delivered to the first six buyers. AP
CEO Elon Musk says the Model X sets a new bar for automotive engineering, with unique features like rear falcon-wing doors, which open upward, and a drivers door that opens on approach and closes itself when the driver is inside. AP
All these things together make the car amazing, he said.
The Model X is the third vehicle from 12-year-old Tesla, after the Roadster — which was suspended in 2012 — and the Model S sedan. It should attract new customers — particularly women — to the brand, and it goes on sale as the market for luxury SUVs is booming. U.S. luxury SUV sales were up 17 percent through August, five times better than the industry as a whole.
If Teslas going to be a more noteworthy player, they need more products, and SUVs are what the market is demanding, said Michelle Krebs, a senior analyst with the car buying site AutoTrader.com. Musk said Tesla anticipates about half of its sales to be SUVs. AP
The Model X shares a platform and motor with the Model S, which is made at the same factory. But unlike the S, which has several battery options, the X only has a 90 kilowatt-hour battery and only comes with all-wheel drive. The 90D version will go 257 miles on a full charge, while the P90D performance version will go 250 miles. Teslas high-speed ludicrous mode is offered on the P90D; it goes from 0 to 60 mph in 3.2 seconds.
The Model X has three rows and seats seven; on a test ride, the back row could fit an adult and had a surprising amount of headroom. The front windshield, which Tesla says is the biggest in the industry, sweeps back and over the front seats. Navigation, music and cabin controls are accessed through a 17-inch dashboard touch screen.
The doors — and the Tesla-designed second-row seats, which all move independently — were among the reasons the Model Xs launch was delayed several times. Musk declared plans for the Model X in 2012; it was initially predictable to go on sale in early 2014.
The Model X is alone, for now, in the all-electric luxury SUV market. Its closest competitor is the plug-in hybrid Porsche Cayenne SUV, which starts at $77,200. But others, spurred by Tesla, are planning their own all-electric models. Audi said this month that it will have an all-electric SUV by 2018.
Tesla Motors, Inc. designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The Company also designs, develops, manufactures and sells electric vehicle powertrain components to other automotive manufacturers. Its products comprise Model S and The Tesla Roadster. The Company uses energy administration technologies and manufacturing processes developed for its vehicle powertrain systems and develops stationary energy storage products for use in homes, commercial sites and utilities. It designs its battery packs.
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