Tesla Motors Inc (TSLA): Has Obama’s Electric Car Revolution Failed?

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That puts the Model S squarely in BMW territory, hardly “mass-market”. But it’s the only electric car so far that has real-world range comparable to the average gas-powered vehicle, about 300 miles in the top of the line version.

It’s almost as if Tesla Motors Inc (NASDAQ:TSLA) figured out how much it would cost to build an electric car with that kind of range – and then designed a car around it that would arguably be worthy of the price.

That has worked out well for Tesla Motors Inc (NASDAQ:TSLA), which is hitting its sales goals and is close to reporting its first profit. But even though it received (and to be fair, is paying back ahead of schedule) $465 million in government loans, Tesla Motors Inc (NASDAQ:TSLA)’s sales are barely a drop in President Obama’s million-electric-car bucket: Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk says that his company expects to sell 20,000 cars this year.

That’s an awfully long way from a million cars by 2015. And as of right now, there’s nothing in sight that is likely to do much to close that gap.

The article Has Obama’s Electric Car Revolution Failed? originally appeared on Fool.com and is written by John Rosevear.

Fool contributor John Rosevear owns shares of Ford and General Motors. Follow him on Twitter at @jrosevear. The Motley Fool recommends BMW, Ford, General Motors, and Tesla Motors. The Motley Fool owns shares of Ford and Tesla Motors.

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