The much-awaited Tesla Model X, the electric sports utility vehicle from Tesla Motors, is ready to be delivered to the first batch of its loyal customers. The official launch date is set for September 29.
The launch event is to be held at the company’s factory in Fremont, California. Model X, Tesla’s third car, is a critical turning point for the company. Model X is an attempt to prove to the automotive world that Tesla is capable of following up the huge success of its Model S sedan. Model X is perhaps the first step for Tesla to make a transition into marketing multiple vehicles in the EV market.
Both the date and location of the launch event was announced by the company’s CEO in early September, when Elon Musk, Tesla’s CEO, had tweeted that his company will begin to deliver the first batch of Model Xs on that date.
The car has been long in waiting since the company first showed it off more than 3 years ago. Tesla intends to increase the production of the new model in the fourth quarter of this year in an attempt to meet its target of delivering and shipping 50,000 to 55,000 cars (of both Model S and Model X) in 2015.
During the start of September, Tesla had invited the customers having ‘signature reservations’ to choose their car details including the color and size of the wheel. Production, it appears, started immediately thereafter so as to meet the self-imposed September 29 deadline. This event is a replica of how the first batch of Model S was launched and delivered.
According to tvnewsroom, as per recent company appraisals, the target price for Tesla’s shares has been increased to $365 a share. The website claims that this is backed by an analysis done on Tesla’s battery business. The analyst believes that the combined concept of Tesla’s electric vehicles with Uber’s philosophy of shared mobility is a sustainable transportation solution.
Jonas, the analyst, opines that Tesla and Uber are at the two opposite ends of the mobility business, which is estimated to be a $10 trillion industry. Tesla, in addition to manufacturing its own models, is also involved in designing, developing, manufacturing and marketing EV powertrain components to other manufacturers in the automotive segment.
The analyst is of the opinion that if the company can reach success with just the Model S sedan till now, the prospects in the coming decade is very positive as Tesla intends to sell 500,000 units annually with not more than four models. The EV manufacturer reported an EPS of $0.60 for this quarter, beating the estimated $0.48 by $0.12.
The much-anticipated NextEV is estimated to make deep inroads into the EV market if it manages to make more stable and better-model cars than Tesla’s. Moreover, Porsche’s Mission-E concept EV which was showcased at Frankfurt Auto Show created a flutter among the car enthusiasts. However, in an attempt to tap the existing market opportunities for sustainable transportation, Tesla is expected to launch a shared mobility vehicle and a shared mobility service.