The rule of the road when it comes to cars (particularly SUVs) and families is often a simple one if there is ever an accident or a problem… Big car wins. That generally means that electric cars and hybrid cars are tiny and usually ugly. Just don’t tell it to Tesla Motors, Inc. (NASDAQ: TSLA). The company is introducing an electric SUV called the Model X.
Production is set to begin in late 2013 and deliveries are expected to commence in early 2014. The company is beginning to take orders for the Model X today. Personally, this looks like more of a crossover vehicle than a true blue SUV but that is really for you (and buyers) to decide.
Tesla discusses the Model X: “Model X is designed from the ground up to blend the best of an SUV with the benefits of a minivan, as only an electric car can. It is an automobile above category, built around the driver—and six of her friends. It artfully provides unfettered performance and brilliant functionality… Model X is designed to offer ultimate utility in a tight, efficient package. From every angle, Model X is as big on style as it is on function.”
This will mark the third model out of Tesla. It already has the roadster and then there is the sedan via the Model S. So far investors are ‘selling the news’ on this one. Shares are down 5.7% at $30.71 against a 52-week range of $21.11 to $35.00. Keep in mind that even after the drop this one has a market capitalization rate of $3.2 billion and a significant portion of its shares are not in the public float.
JON C. OGG
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