Tesla Motors Inc (NASDAQ:TSLA) reported earlier this week that they have delivered around 10,030 vehicles in the first quarter of 2015, which had surpassed the analyst average expectation of around 9,500 vehicles in the quarter. This had an immediate effect on the stock as Tesla Motors Inc (NASDAQ:TSLA) started trading 6% higher on Monday. It had breached the $200 mark again on Monday. Meanwhile, CNBC’s Phil LeBeau reported earlier today that Tesla Motors Inc (NASDAQ:TSLA) has come up with new base version of Model S vehicle with many upgrades.
LeBeau said that Tesla Motors Inc (NASDAQ:TSLA) has introduced a new base level for its Model S vehicle. He said that this upgraded Model S will have more range, capability and with bumped up price tag.
“Here is what Tesla is introducing. It is a 70kWh battery that they are going to putting into the base level model. It used to be 60kWh. The range has been increased from 208 miles fully charged upto 240 miles. It will have dual motor all-wheel drive. It used to be only rear wheel drive. Now the base level will all be dual motor all-wheel drive and the starting price up about $5,000 upto to $74,900,” LeBeau reported.
He said that there are other additional upgrades to the new base level Model S 70D. The new base level model will have autopilot and supercharging hardware. He pointed out that Tesla Motors Inc (NASDAQ:TSLA) was planning to roll out the autopilot software with in next 6 months. He said that the consumer has to pay additional $2000 to get autopilot software in the base level Model S 70D, which is optional at the moment. He added that Tesla Motors Inc (NASDAQ:TSLA) is also adding three new colors to the vehicle. He pointed out there is no ‘Insane mode’ in Model S 70D. He said that the ‘Insane mode’ is there with Model S P85D and not with Model S 70D.
LeBeau said that the quarterly sales of Tesla Motors Inc (NASDAQ:TSLA) has gone up steadily for the last 5 quarters. It went up from 6,475 vehicles in Q1 2014 to 10,030 vehicles in Q1 2015. He pointed out that Tesla Motors Inc (NASDAQ:TSLA)’s target for this year is around 55,000 vehicles, which will also include Model X SUV’s. He added that Model X SUV’s will be launched in third quarter and ramp up its production in fourth quarter.
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