Tesla Motors: The Next Auto Giant in the Making?
A Tesla Roadster is electrically charged at Tesla Motors in San Carlos, California July 22, 2009. Electric cars are one of several alternative fuel vehicles that could help the U.S. reduce its dependency on oil.
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Source: Tesla Motors: The Next Auto Giant in the Making?
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| Tesla's IPO came at a time when the entire world, especially the U.S., is tightening environment regulations over carbon emissions and favoring automakers to roll out environment-friendly vehicles. Moreover, President Barack Obama has set a goal of getting 1 million plug-in hybrids and electric cars on U.S. roads by 2015. According to analysts, Tesla's much-awaited Model S, a sporty $50,000 electric sedan, could change the way consumers view cars by 2012. The automaker, which currently makes only the two-seater $109,000 Roadster, also plans to roll out other zero-emission vehicles over the next few years. The Roadster is still the only highway-capable electric vehicle on the market in the U.S. Despite a new-entry in the automobile market, Tesla has generated significant interest among investors who are betting that a Silicon Valley company can make the electric car a reality, fulfilling an opportunity that has been overlooked by Detroit for many years. No wonder, less than two months from its IPO, four leading brokerages have started coverage of the company. |
Source: Tesla Motors: The Next Auto Giant in the Making?
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