Tesla Model S Hits One Billion Mile Mark


Tesla announced on Tuesday that its Model S cars have logged one billion total miles. The EV maker notes that the miles covered by its cars equal 4,000 moon trips, 40,000 circuits of the Earth, or a road trip that lasts 2,000 years.

More savings for Model S drivers

In addition, commenting on the milestone, Tesla said that together the cars have saved 570,000 tons of CO2 emissions, which has been calculated considering an average gas-powered car running a similar distance. Also during the period, Tesla drivers did not worry about oil changes and smog checks, thus helping owners save more than $15,000.

Some of the points from Tesla made sense, while some were a bit hard to digest. The EV maker claims that by driving a Tesla, owners have actually saved 10 years which they would have spent standing at gas pumps. Here, Tesla might not have included the time drivers spent charging their cars. Also on the savings, Tesla may not have factored in the cost incurred for charging a Tesla vehicle. Though the EV maker offers free charging at its Supercharger stations, most of the charging is done at home where the average kilowatt-hour costs around 11 cents.

A big achievement for Tesla

Despite the bold claims from Tesla, one thing we can’t take away is the gas savings. Driving a Tesla Model S is very cost-efficient. If we take average electric prices, then the cost of running a Model S is a fraction of what is incurred even on non-luxury cars, according to a report from Consumer Reports.

Another point worth noting is that hitting a billion miles is a big achievement, especially if we consider that the electric car industry has yet to turn mainstream. Tesla estimates that its vehicles hit the 500 million mile mark in July of last year, while the 700 million mark was achieved in January of this year. A jump in vehicle sales has certainly helped Tesla add on more miles.

On Tuesday, Tesla shares closed up 3% at $267.67, and year to date, the stock is up over 20%.

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About the Author

Aman Jain
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 [email protected]

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