Why Tesla Might Be a Best Car Deal

Tesla S electric carYou may not have heard yet of Tesla Motors — but you will.

It’s the electric car manufacturer founded by billionaire entrepreneur Elon Musk, who also founded PayPal, and now SpaceX, the private space exploration firm. He has just recently proposed a super-high speed transport system called Hyperloop.

Tesla Motors is setting the automotive industry on fire. It’s luxury all-electric Model S has garnered Consumer Reports’ highest ever rating for a new car and it has just recently blown the roof off (pun intended) the government’s crash-test ratings. It has received rave reviews from both professionals and owners. It is also the 2013 Car of the Year at Motor Trend and Automobile magazine.

Why is this car different — and better than the other electric vehicles (EVs) currently being offered by Ford, Chevrolet, Nissan, Mitsubishi, and others?

Tesla has solved two of the three primary problems with EVs — driving range and quality, and is working on the other one: cost. A driving range of 265 miles (301 miles with optional large battery) blows all the other EVs out of the water. Quality is among the highest of any vehicle being made, thanks to an innovative new robotic manufacturing plant in Fremont, California.

A Tesla Model S starts at about $71,000, well within the price range of most luxury cars. But … because it’s an EV, buyers receive a federal tax credit of $7500, plus up to $7500 more in state incentives. Note that these are tax credits, not deductions. It’s like a cash rebate from the government. If you choose to install a high-speed charging station in your home, there are additional incentives.

Of course, the primary benefit of an EV is fuel cost savings since there will be no gas purchases needed as there would be for a conventional or even a hybrid vehicle.  The savings are partially offset by the cost of electricity needed to charge the Tesla, but that cost is almost negligible in comparison, especially if free public charging stations are used frequently.

The above are the obvious cost savings but there are other significant ways in which an EV eliminates expense. Consider the fact that the following are no longer needed:

Since the Tesla vehicle has a very simple electric motor direct-drive system, it lacks the hundreds of thousands of parts and components of a conventional gas-fueled vehicle. There’s no complicated gas engine, no transmission, no exhaust system, no oil and water circulation systems, and no differential. That means fewer things to wear out or break, leading to a quantum jump in reliability, as well as drastically reduced maintenance and repair cost. Even though the car has conventional brakes, they are used less often (and wear out less often) because by letting off the “gas” pedal, it self-brakes as it recharges the batteries.

If the Tesla Model S is a bit expensive for your budget, the company is committed to building a new, more affordable, more practical version called the Model X, which will be available in 2014.

For more information about the Tesla Motors company and its innovative cars, see www.TeslaMotors.com.

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