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PHOTO CAPTION: Teaser image of original Model S concept.

Tesla Reported Moving Ahead with $35K Electric Car

Gen 3 car would be smaller version of the highly successful Model S and would due out sometime in the 2016-1017 time frame.

Published: 30-Jun-2013

Tesla has proved it can make an expensive electric car, but it has not yet met its goal of making an affordable one. Its long-term success may hinge on its ability to drive down battery and manufacturing costs and create a car in the $35,000 price range.

There are many ways to measure Tesla Motors’ remarkable progress in the three years since the electric carmaker launched its initial public offering. There’s the first-ever profitable quarter this spring. There’s the nearly perfect 99 out of 100 score in Consumer Reports’ review of the Model S sedan. There’s the stock price, up more than 500 percent since June 2010 and currently trading around $109 a share.

Then there’s this: Tesla, which is on track to build 21,000 cars at its Fremont, Calif., factory this year, is worth more than Fiat and nearly a quarter as much as General Motors — which has 21,000 dealers.

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