Tesla Motors Inc Model E To Be Affordable For Mass Market

Tesla Motors Inc Model E To Be Affordable For Mass Market
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Tesla Motors Inc (NASDAQ:TSLA) Model E car, which is expected to debut in 2016, has been assured to be reasonably priced. The company said that the battery price will be a decisive factor in the fixing the price of the car. According to the reports from AutoCar, Gigafactory will help to bring down the price of batteries.

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Small size, less aluminum

Chris Porritt, the EV carmaker’s VP of engineering told Autocar, “the Gigafactory will help make battery manufacturing more cost-effective.” Less aluminum implies a more traditional pressed steel construction to bring down the cost as low as possible.

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Porritt, also, talked about Model X Crossover saying that the structure of the vehicle will be slightly different from that of Model S, with a same wheelbase and different suspension setup. Tesla will rollover Model X in the first months of 2015 with trick Falcon wing doors, two electric motors and four wheel drive. But the eco-friendly fans are more interested to know about the low priced Model E, which is the registered trademark of Ford Motor Company.

Additionally, the car will be smaller than the Model S by about 20% and will not totally be an aluminum body car like Model S. Model E price would fall in the range of other electric cars such as the Audi A4 and the BMW 3-series. German Automaker Audi has, recently, unveiled first plug-in hybrid, the Audi A3 E-Tron, which is approximately priced at $20,000 more than the normal A3.

Tesla Gigafactory: a lot depends on it

Just few days back, Elon Musk released a six-page document talking about Gigafactory that is expected to have an annual capacity of 500,000 EV batteries. Tesla is holding talks with Panasonic and few other potential partners to fund its $5 billion factory plan. Gigafactory would be built in the stretch of 1,000 acres and can employ up to 6,500 people. The company is considering the desert location to draw maximum benefit from solar and wind power.

Tesla Model S has already made quite a mark among the customers, critics and auto experts. Strategic Vision, a research firm in
Southern California has assigned Tesla Model S a “perceived quality” award. The agency informed that the Model S achieved the highest score among in Total Quality Index.

“Tesla built a vehicle that generated love in attributes that were most important to segment buyers,” says Christopher Chaney, a Strategic Vision senior vice president, in a statement.

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Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com
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  1. The concept is great. However the current price is out of reach for the middle class. If he can pump out these hi tech cars at around $30.000.00 the auto industry will be light years ahead because they will be forced to look at Tesla as the standard for quality.

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