Many wonder if their new innovations are the future of the modern car or just an interesting blip on the screen.
With write-ups from prestigious reviewers like Consumer Reports, the Tesla Model S car is currently enjoying marketing “buzz” that will no doubt help fix the company in the public mind in a favourable way meaning it is here to stay. Here’s a short run-down on the history of Tesla Motors.
The Story of Tesla Motors
Tesla Motors was named after the 19th century physicist Nikolai Tesla, a great rival of Thomas Edison. In fact, the AC motor that the company uses for its car came directly from an 1882 prototype motor that Tesla designed. The company began with a group of Silicon Valley engineers got together in San Carlos, California and decided that a workable electric car was within reach and should be available to the automotive marketplace.
In 2003, they set about the task of putting together a viable design for an electric car that would not pollute the already-overburdened California environment, would provide reliable transportation and would be affordable for the average person.
Mindful of the checked history of the electric car since its beginnings in the 1800s, the group began designing a car that would fulfil the necessary requirements for production. Along the way, the picked up PayPal founder Elon Musk as a board member and George Clooney as the first person to put a deposit down on one of the first cars produced.
A number of upsets plagued the company in the early days. One of the early founders of the company, Martin Eberhard, filed a suit against the company, which was eventually dropped. Early plans to manufacture in New Mexico were changed despite the state offering the company incentives to stay. It wasn’t until 2008 that the company began to produce the Roadster sports car, left, in Fremont, California, which eventually sold 2,150 vehicles.
The company then announced the production of a new vehicle the sedan-style model S. In 2009, the U.S. Department of Energy approved $465million in low-interest loans to produce the vehicle.
In January 2010 Tesla Motors registered its initial public offering of stock and the true potential of their new vehicles became apparent to all. By June of 2010, Toyota Motor Corporation had agreed to work with Tesla Motors on production of the model S.
The Tesla Model S
It received a number of positive reviews by a number of review institutions, including Car & Driver and Road & Track.
With an upper speed of 110 to 130 mph and a range of 265 miles per charge, the Tesla is turning heads and changing minds among the public.
In 2012, the company revealed its new Model X SUV design, left and top, to the public, stating it would be available in 2014. Tesla has created an active presence in the automotive marketplace, making their innovative vehicles accessible to all by installing recharging stations in strategic areas, in both large and small markets.
The company has also made an arrangement with several banks to institute a vehicle buyback program for previous owners of their cars.
With the public’s increasing acceptance of electric cars and the industry’s hunger for new, greener vehicle design, Tesla Motors is poised to increase their market share well into the future.