Tesla Motors introduces all-electric sedan

Jeremy Hobson: Today Tesla Motors will deliver its first all-electric sedan. The co-founder of the company is a billionaire named Elon Musk, who you may remember as the guy who just got a private spacecraft up to the international space station.

Well As Marketplace’s Jeff Tyler reports, Musk and Tesla are betting the moon on the success
of this new electric car.

Jeff Tyler: Tesla’s all-electric sedan is called the Model S. It can travel up to 300 miles before it needs to be recharged.

John O’Dell with Edmonds.com says the new car will make or break the company.

John O’Dell: Tesla has never been profitable. They need the sales of this car to push them over that hump and start bringing in an annual profit so that they can generate funds.

The first version of the Model S is expensive — more than $100,000. Jesse Toprak covers the electric vehicle market for TrueCar.com.

Jesse Toprak: There are only so many cars you can sell to Sierra Club members and celebrities. It certainly is not going to be the top choice of the middle-class families. At least, not right now.

Middle-class consumers may be more interested in a cheaper version of the car expected by winter at about half the price. Tesla didn’t respond to an interview request. But the company has proven popular with Wall Street investors. Since Tesla went public two years ago, its stock price has doubled.

I’m Jeff Tyler for Marketplace.