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Transportation equipment industry

Tesla Motors Unveils Electric Roadster with $60 Million in Funding

Strategic Insights

— 1 min read

CNBC's Maria Bartiromo moderates a discussion between Tesla Motors' CEO Martin Eberhard and co-founder Elon Musk, who is investing $30 million in the company. The conversation takes place on the heels of Tesla's unveiling of its new electric roadster, which has received funding from investors including Google co-founders Sergey Brin and Larry Page. The electric roadster boasts impressive performance capabilities, equivalent gas mileage of 135 miles per gallon, and an estimated price tag of around $80,000.

Key Takeaways:

  • Tesla Motors' electric roadster is a high-performance sports car that can go 135 miles on a gallon of gas, equivalent to the gas mileage of a gasoline-powered car, despite being an electric vehicle.
  • The car is priced around $80,000, targeting high-end consumers who can afford it.
  • Tesla's CEO, Martin Eberhard, emphasizes that the company is focusing on high-performance electric vehicles, rather than targeting the mass market.
  • Elon Musk, co-founder of PayPal and primary investor in Tesla, states that the company aims to make a significant impact on global warming and to demonstrate the feasibility of electric vehicles.
  • Musk plans to follow up this product with a lower-priced, four-door family car that will be sold in higher numbers.
  • Musk believes that Tesla will serve as an example for the auto industry, showing that electric vehicles can be effective and attractive to consumers.
  • Eberhard acknowledges that starting with a high-priced product is a common approach for new products, including cell phones and television sets.

Statistics:

  • Tesla Motors has received $60 million in funding, with Elon Musk investing $30 million.
  • The electric roadster boasts equivalent gas mileage of 135 miles per gallon.
  • The estimated price tag of the electric roadster is around $80,000.
  • Elon Musk expected to invest an additional amount in Tesla Motors in the future.
  • Ten years ago, General Motors attempted to launch the EV-1, an electric vehicle that was deemed unmarketable and was pulled from the road in 2003.

Sources:

  • CNBC/Dow Jones Business Video, a division of CNBC/Dow Jones Desktop Video, LLC.
  • Voxant, Inc. (www.voxant.com)

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