As the somewhat stately progression continues toward building a society based on green energy, the electric car may have won itself several thousands of new converts -- provided they have lots of 'green' in their jeans.
"Finally, an electric car we all want!" thundered the headline from CBS News, heralding the unveiling Thursday night in Los Angeles of the new Model X, the brainchild of Silicon Valley-based Tesla Motors (Nasdaq: TSLA), and the even gladder tidings that these wheels are available right now – albeit at a steep price, stretching towards $75,000 U.S.
The "Eye" network report raved about the "sleek-looking cross between a minivan and SUV with clever 'falcon wing' doors and a new electric all-wheel drive system."
Make no mistake; the Model X is a luxury car, with features set to make the more affluent tree-hugger drool all over its windshield. "The key to Tesla's cool design," continues the CBS piece, "is the powertrain, built around a flat battery pack that extends from the front to rear wheels under the car. This provides a low center of gravity for good handling, but also allows for substantially more interior space than a vehicle with a transmission running under it."
The electric powertrain under the Model X and its cousin, the Model S (set for launch later this year) provide those vehicles with a platform on which Tesla intends to build other variants.
During the unveiling of the Model X, Tesla CEO Elon Musk reiterated his desire to make a "mass market" electric vehicle with a lower price point, too, so that lower-budget folks can do well by doing good, without fear of foregoing the mortgage payment.
With Tesla phasing out sales of its erstwhile flagship car, the all-electric sports car known simply as the Roadster, much hinges on how sales of the Models X and S go this year. The stock has been fairly volatile since the company went public in January 2010, plummeting Friday by 4.7% (allowing for the “Greek malaise” that gripped much of the market that day) to $31.04 U.S.
Shares peaked for the year at $35.00 U.S. in early December, after plunging as low as $21.11 U.S. in late February 2011.
With the latest in what CBS calls "disruptive" technology, Tesla has served notice it wants slower traffic out of its way.
