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Tesla To Unveil Cheaper ‘Model E’ Car At 2015 Detroit Auto Show

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In less than two years, Tesla Motors Inc (NASDAQ:TSLA) may unveil a more affordable car. The company’s chief designer Franz von Holzhausen recently spoke during an interview with AutoBild and he said it was likely Tesla Motors Inc (NASDAQ:TSLA) would reveal a mass market car at the 2015 Detroit Auto Show.

Tesla prepares for Model E

The purported car, which will be dubbed the Model E, is said to cost about half the price but it will be about the same size as the Model S. There is no report on when the new car will go into production but it is likely to go on sale in 2016. The Model S currently has a base price of $60,000.

Tesla wants to make batteries

In other Tesla Motors Inc (NASDAQ:TSLA) news, the company’s chief executive officer wants to make batteries for SolarCity Corp (NASDAQ:SCTY). The company hopes to help their customers save electricity for peak demand. USA Today elaborated on the matter:

“In the process, it helps fix one of the big problems of solar power, and electricity in general: There has been no reasonable way to store it. Generally, whatever electrons get generated need to be consumed right away. For businesses that need spikes in their power use during the day, or those that want to avoid utilities’ higher rates during certain hours, battery storage could be a boon. Tesla Motors Inc (NASDAQ:TSLA) is unusual among automakers in that its batteries come in packs made from cells of the same type used in laptop computers. Hundreds or thousands of these cells are bundled to make Tesla battery pack. If they work for cars, they should work for corporate storage purposes.”

Although Tesla Motors Inc (NASDAQ:TSLA) previously had problems with battery supplies, SolarCity Corp (NASDAQ:SCTY)’s CEO Lyndon Rive believes the supply will be better in the future when the storage system takes effect. He also thinks it will just save the companies even more money.

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