Tesla Motors Inc (NASDAQ:TSLA)’s CEO, Elon Musk is making his big announcement in today’s conference call which according to him is going end range-anxiety nightmare for Tesla Motors Inc’s electric vehicle’s owners. As reported by Phil LeBeau, of CNBC, Musk’s announcement will be a great news for Tesla Motors Inc investors as Tesla Motors Inc shares are expected to move up after this step.
“Elon Musk, the CEO of Tesla will give an update in terms of what he says will end range-anxiety, that’d be rolled out over-the-air software-update that Tesla will be pushing out to all Model S vehicles. So, any of the vehicles that they have built so far and delivered here in the U.S. – they are going to be getting this upgrade and really worldwide as well. The Model S range, by the way, according to the EPA is 270 miles,” LeBeau reported.
There are many companies today, including the likes of Apple Inc. (NASDAQ:AAPL), that want to jump on the electric car making bandwagon but the single main issue that still discourage people to think about buying an electric car is the fear of being stranded in the middle of nowhere with no place to charge your car. Previously, Tesla Motors Inc (NASDAQ:TSLA)’s focus was on expanding its Supercharger network across the country but they have not been able to expand that network beyond major urban centers.
“Remember, just a few years ago the big push at Tesla was to expand its Supercharger network. These are re-charging stations that they have built and established around the country. When you look at the Supercharger network, you can see that for the most part, it’s coast to coast – primarily on the east coast and west coast. But, you can find them along main highways here in the midwest – what we call the fly over part of the country. Is it enough for people who might be in North Dakota, or people who might be in Arkansas – areas where you don’t see a super-charging station?” LeBeau said.
Electric cars cannot see better days unless electric car makers come up with ways to optimize battery usage. Tesla Motors Inc (NASDAQ:TSLA) recently released upgrade package for its Roadster model that involved hardware changes. This time they are looking to achieve it’s objective in a more modern way – with an innovative software update. In the words of Tesla Motors Inc’s CEO, Elon Musk: he is about to end his customers’ range-anxiety.
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