Tesla Motors Inc (NASDAQ:TSLA) seems to be in the midst of a nice rally this month after spending October and November declining. So far, the automaker’s shares have climbed 13% after falling 34% starting on Sept. 30. But even though they haven’t fully recovered to their all-time highs, Tesla is still beating December General Motors Company (NYSE:GM), which declined 3.6% so far this month and Toyota Motor Corp (ADR) (NYSE:TM) (TYO:7203), which has fallen 4% so far.
Shares of Tesla rose less than 1% in premarket trading this morning after a nice increase during the regular trading day on Thursday.
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Model E to be unveiled in 2015
Writing on Barron‘s, Ben Levisohn refers to an interview on Autobild with Tesla Motors Inc (NASDAQ:TSLA) Chief Designer Franz von Holzhausen. He said the Model E mass market vehicle is expected to be unveiled at the Denver Auto Show in 2015. Then it is expected to go into production in 2016.
The designer said the Model E won’t basically be a smaller Model S because they don’t want “a unit face like Audi.” He even compared BMW’s i3 to “an IKEA piece of furniture” in terms of design, saying that it “looks a bit strange and conventional.” He did give the vehicle a thumbs up for its interior, which he called “very modern” with “very clean, thin seats.” He likes the material BMW used for it but thinks that a car “must not look so funky.”
Model X mostly finished
He also said that for the most part, their work on the Model X crossover vehicle is done. The Model X is the next one Tesla Motors Inc (NASDAQ:TSLA) is planning to launch, and according to von Holzhausen, they are simply working on subtleties that most people wouldn’t notice—millimeter by millimeter. He said basically that they are trying to make the vehicle as aerodynamic as possible