The news was shared today, with Tesla comparing the cumulative distance traveled with 4,186 trips to the moon, or a continuous road trip lasting a ridiculous 2,000 years.
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With Tesla Motors [NSDQ:TSLA] having missed some promised deadlines for the launch of its Model X SUV-it’s now due this fall-many industry watchers have become wary of the automaker’s promise that the crucial Model 3 mainstream electric sedan will arrive by 2016.
Elon Musk, the CEO of Tesla Motors has said that the Model S sedan was custom-made for guys and said he wants to make amends and create a latest Model X that would appeal to women. Several other manufacturers have all-electric or hybrid cars available, though progress hasn’t been fast enough for Musk.
Tesla Motors, Inc. (NASDAQ:TSLA) witnessed a decline in the market cap on Monday as its shares dropped 1.04% or 2.72 points.
The billion miles have been covered by around 75,000 Model S vehicles worldwide. Nissan Leaf, however, has been the only electric vehicle to oust Tesla S’s dominance in 2014.
In fact, as a result of the massive pre-order on the Model X, Tesla has reportedly increased production rates at its Fremont manufacturing facility in California, reports Bidness ETC. Things have hopefully changed this time around and Tesla will be able to get the vehicle ready by 2017. Tesla’s lithium-ion based batteries were designed to power houses as well as larger commercial buildings, and to achieve these product efficiency and potential high demand the company invests billion of dollars in building the largest lithium-ion battery plant in the world, located in Nevada. He added, “We continue to recommend buying shares at these levels ahead of the Model X launch”.
The Model 3 will cost $35,000 before government subsidies, making it $40,000 less than the larger Model S, and putting it in line with the BMW’s 3 Series. The company last reported earnings for the period ending on 2015-03-31 of $-0.7 for the most recent quarter. Obviously older cars have more miles, and some are now already two years old.
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The milestone it has achieved of a billion miles globally is a testament to the durability and safety, and the convenience of driving and charging electric cars, which the model offers to its consumers. Tesla owns its sales and service centers and Supercharger stations.
