Tesla Motors Releases Model S

Tesla Motors released its first fully-electric four-door sedan that has many already waiting in line to drive. It’s Tesla’s first vehicle built entirely in-house. WINK has more. “They’re called the Model S...and it can go 160 miles on one charge. The Palo Alto company expects to sell 5,000 electric cars this year.” Inside Bay Area reports success of the Model S could mean a lot for more than just Tesla. “Its efforts represent a chance for California to add more high-end manufacturing jobs amid a continuing sluggish economy and a 10.8 percent unemployment rate. And the electric car industry, which has suffered from setbacks and sluggish sales over the past year, needs a boost.” MSNBC says that success is a big “if”—noting electric cars have been around for over a century and recent attempts to push an electric vehicle into the market haven’t made much progress. “...battery-electric vehicles...as well as plug-in hybrids … accounted for less than 25,000 U.S. sales last year. And while manufacturers have been projecting substantial growth this year, that hasn’t materialized during the first five months of 2012.” But Bloomberg says analysts are optimistic that Tesla can hit its profit targets. In a report on Tesla, analysts said— “‘We continue to view the shares favorable ahead of what we consider is a multiyear product cycle, and thus expect an improved cadence of news flow emerging in the coming weeks to serve as a positive catalyst for the company...’” The first version of the Model S will cost more than $100,000. But if you’re looking to put a little less green into the eco-friendly vehicle, you’ll have to hold on a little longer—Tesla is working on an electric car with a targeted sticker price of less than $30,000.