Why Tesla Motors Inc (TSLA) Isn’t Afraid of the Competition

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To give you a glance of the EV market, I’ve included a breakdown below of some current and prospective all-electric cars and their respective price points:

Current Electric Vehicles
Company EV EPA Range Sale Price
Tesla Motors Tesla Model S 208 miles $62,400
Toyota Rav4 EV 103 miles MSRP  $49,800
Chrysler Fiat 500e (only available in California) 87 miles MSRP  $31,800
Ford Ford Focus EV 76 miles MSRP  $35,200
Nissan Nissan Leaf S series 73 miles MSRP $28,800
Prospective Electric Vehicles
Company EV Projected Range Sale Price
BMW BMW i3 EV 80 miles MSRP  $41,350
Tesla Motors Tesla Model X 214 miles Starting  at $60,000
Daimler Mercedes Electric Drive 115 miles Not yet available
Honda Honda Fit EV 82 miles Leasing program only available in select states
General Motors Chevy Spark EV 82 miles MSRP  $27,500

As you can see, there is a way to go before both range and price for electric vehicles are appealing to the masses. However, at this point Tesla is smart not to worry about competitors. In fact, the more that traditional automakers invest in EV technology the more it proves that there is a market for battery-powered cars.

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The article Why Tesla Isn’t Afraid of the Competition originally appeared on Fool.com and is written by Tamara Rutter.

Fool contributor Tamara Rutter owns shares of Tesla Motors. The Motley Fool recommends Tesla Motors. The Motley Fool owns shares of Tesla Motors.

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