Model X to prove Tesla’s worth image

With a continuously rising stock in the past two years, Tesla has become the fastest-growing publicly traded automaker. And the company only has one model on offer – the Model S luxury sedan.

Led by billionaire entrepreneur, co-founder and CEO – Elon Musk – the California-based company has moved to set ambitious targets for the following years: 35,000 units sold in 2014; 100,000 by 2016 and 300,000 by 2020. For that, the automaker will launch the new Model X crossover next year, build a battery Gigafactory and introduce the Model 3 affordable electric sedan by 2017.

“We’re expecting the X’s main selling point to focus on driving pleasure (acceleration, handling, AWD), cool features (upgraded infotainment system, falcon door feature, interior room and comfort) augmented by first-to-market safety features in the area of autonomous driving and “car learning,” says Morgan Stanley analyst Adam Jonas.

CEO Elon Musk said during the latest conference call on second-quarter earnings that after initial batches of Model S cars had some problems, the company is now on its way to meet the “Platonic ideal” of a service-free car. Besides that, as the automaker will swiftly ramp up production of the second model – the crossover – Jonas expects the Model X to “overtake Tesla’s flagship S in volume by 2018.”

Via Business Insider