While many sizable car manufacturers around the world have begun to experiment with clean energy sources in the last few years, the majority of vehicles on the road are still powered by carbon-based gasoline. However, one small company based in Silicon Valley has devoted itself wholeheartedly to green living by only producing electricity-powered vehicles.
Tesla Motors was founded in 2003 with the intention of "accelerat[ing] the world's transition to electric mobility," according to the company website. In the past nine years it has made quite a stir in the auto industry, and was featured on the cover of Wired Magazine in 2010 because of its innovative and environmentally-friendly methods.
Tesla has always faced an uphill battle with its products, with investors and consumers alike still undecided on the potential of battery-powered car. In fact, the company has yet to make a substantial profit since it began. However, the company has stated its belief that its latest electric vehicle – the Tesla Model S Electric Sedan – will change that.
The car, which Bloomberg News reports was the first to be produced entirely in-house, was released last week. The company has already received deposits on its newest product from 10,000 customers.
Though the mission statement of the company is to make renewable energy more accessible and affordable, at $49,900 after a $7,500 federal tax credit, this Model S Sedan doesn't quite fit the typical household budget. But, it is just the beginning for a burgeoning business, and the source states that Wall Street analysts have faith that the company will see continued success in the next year.
And though electric cars haven't exactly taken the country by storm in the last 10 years, sustainable living is increasingly becoming a priority for Americans, who may be more willing to make the conversion when more affordable models are available.