Skepticism over Tesla Motors Inc. (NASDAQ:TSLA) dominance of the electric-car segment is poised to grow in the coming months after it emerged that Audi is preparing to unveil an all-electric family car in the near future. Tesla’s valuation in the market has mostly been based on the inadequacy of competition in the electric car segment, something that is to change starting 2016.
Audi innovation will feature a range of 280 miles and expected to compete hand in hand against Tesla’s Model-S according to the company’s head of technical development, Ulrich Hackenberg. It is still unclear whether Audi will usher in an entirely new model line of Audi or stick with the current models of Audi A3 e-tron.
Audi is to release its R8 supercar next year as part of the R8 e-tron project with a range of up to 280 miles. Tesla Motors Inc. (NASDAQ:TSLA)’s Model-S continues to be the talk of the town as it can travel up to nearly 300 miles on a single charge, triple the range of other electric cars in the market. Audi entry into the space with a 280 miles supercar is all but set to affect Tesla Motors Inc. (NASDAQ:TSLA)’s dominance status.
Audi’s high range of 280 miles will be made possible by a new set of next generation batteries with an electric motor that promises to provide increased power density. Auto Industry experts expect Audi to go for a saloon-style chassis, for a better packaging of the vehicles components. The body will also feature a bigger surface area that is poised to provide ample space for bigger and powerful batteries.
Porsche is also set to give Tesla Motors Inc. (NASDAQ:TSLA) sleepless night in the near future as it is believed to be developing its own all-electric car, reported to be a smaller version of the Panamera. Tesla Motors Inc. (NASDAQ:TSLA)’s Model-S remains the benchmark that other automakers will look to beat in terms of capabilities and features going forward.
There is no doubt that Tesla Motors Inc. (NASDAQ:TSLA) is the real deal in the electric-car industry having already introduced Model-D that is an all-wheel drive with a top speed that matches that of McLaren Formula one. The automaker still has to do more in terms of production if it is to fend off imminent competition in the segment going forward.
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