Motoring
Tesla Motors plans to debut cheaper car in early 2015
LOS ANGELES – Tesla Motors plans to unveil an electric car in early 2015 that could sell in the $40,000 range, a mainstream offering that could be key to the automaker’s future growth.
Tesla’s only current offering is the Model S, a premium sport sedan that starts at $71,070 before any state or federal tax incentives, and can cost far more with options. In late 2014, the Palo Alto automaker plans to release a long-awaited Model X sport-utility, likely to sell in the same price range.
The third, lower-priced model could make its official debut at the 2015 North American International Auto Show in Detroit, Tesla confirmed Friday. It would begin selling in 2016 or 2017.
The automaker has long promised a more affordable electric car. Delivering one will be crucial to its future.
“This is hugely important for Tesla,” said Thilo Koslowski, an auto industry analyst at Gartner. “This is ultimately the car that will make
Tesla a household brand rather than just something in the premium segments. No car company can live off 20,000 to 30,000 sales a year and be profitable in the long term.”
Tesla is on pace to build about 21,000 copies of its only current vehicle, the Model S sedan. The automaker hopes to double that figure in 2014 with the introduction of the Model X.
Building a third, more affordable vehicle will require Tesla to find the sweet spot in combining battery size, capacity and cost.
The automaker will need to squeeze a 200-mile driving range out of a battery that’s smaller than currently available in the Model S, which has a maximum EPA-rated range of 265 miles.
“That’s pretty ambitious to get there,” Koslowski said. “One hundred to 120 miles of range isn’t enough for mainstream consumers to really feel comfortable.”
A $40,000 car with a 200-mile range would give Tesla a significant competitive advantage, as mainstream automakers probably will not hit those cost and range targets for at least another year or two, Koslowski said.
Also important for Tesla’s success will be its ability to ramp up production to a much higher level. The current Model S is built at Tesla’s Fremont, Calif., plant and uses only about a quarter of the facility’s 5 million square feet of space. This is where the Model X will also be built.
The X will use essentially the same drivetrain as the current rear-wheel-drive Model S, save for another electric motor driving the front wheels, making the X all-wheel-drive. The vehicle will sit higher than the Modal S and will use a pair of gullwing-style doors for easier access to the second and third row of seats, Tesla said.
Tesla is already taking refundable $5,000 deposits for the X, though it won’t say how many customers have plunked down their cash already.
The Model X and S are considered by the company as the second step in its evolution of electric cars. The first was the Tesla Roadster, the two-seat sports car of which Tesla sold about 2,300 copies worldwide, and which is no longer in production.
The newest model debuting in 2015 will be the third step, as its platform will differ significantly from anything else Tesla has built so far.
The plan for a mainstream model follows a strategy that Tesla Chief Executive Elon Musk laid out in a 2006 blog post.
“The strategy of Tesla is to enter at the high end of the market, where customers are prepared to pay a premium,” Musk wrote in a post titled “The Secret Tesla Motors Master Plan (just between you and me).” “Then drive down market as fast as possible to higher unit volume and lower prices with each successive model.”
– LA TIMES
The Federal Capital Territory Administration (FCTA) has ended contracts with taxi rank and terminal operators due to their failure to meet engagement terms and conditions.
Mr. Ubokutom Nyah, the Mandate Secretary of the Transportation Secretariat, FCTA, made this announcement during a meeting with managers of these terminals and taxi ranks in Abuja.
Nyah clarified that due to the operators’ failure to fulfill their engagement terms, the FCTA had to terminate their contracts.
He instructed them to transfer control of the ranks to the Administration within three months, starting from Nov. 21.
He lamented the presence of unauthorized motor parks in the city and assured the readiness of the Administration to establish proper taxi ranks and terminals in the capital.
He revealed that personally visiting the city’s taxi ranks, terminals, and unauthorized motor parks gave him direct insight into the poor condition of these facilities.
He emphasized that as the federal capital city, Abuja deserves better, highlighting that the poor condition of these facilities attracts various criminal elements.
He said “We must rid Abuja of all these. I have gone round the taxi ranks, and of all the places I visited, not one is worthy to be called even a village motor park.”
The Mandate Secretary stressed that the intention wasn’t punitive; rather, it aimed to revamp the sector, introduce new engagement terms, and modernize taxi ranks and terminals in the federal capital.
He also highlighted the plan to increase the number of terminals and ranks where necessary, which would positively impact the administration’s revenue.
He emphasized that this measure was part of a broader effort to eliminate illegal motor parks in Abuja and curb the associated criminal activities.
In response, Mr. Adebisi Lawal, the Operator of Jahi Taxi Rank, praised the administration’s initiative to modernize the taxi ranks and terminals.
Lawal urged the administration to prioritize current operators’ involvement in the selection of new developers for the modernization of the taxi ranks and terminals.
It was a show of power at the Ojota area of Lagos on Monday as soldiers pummeled an officer of the Lagos State Traffic Management Authority, (LASTMA).
Eyewitness accounts claim that the ugly scene played out around 8am, and saw about eight soldiers pounce on the yet to identified LASTMA official, while his colleagues took to their heels.
The video of the melodrama has gone viral, where the LASTMA official was appealing to the soldiers, who appeared bent on ‘teaching him a lesson’.
This onslaught comes on the back of a reported assault of a soldier at the same location by LASTMA officials last week.
It would appear that what played out today was the army asserting its authority and defending their khaki as the armed soldiers carried out what looked like a revenge mission.
Eyewitnesses further averred that the victim was rushed to a nearby hospital, after the soldiers left the scene.
It was gathered that the authorities at LASTMA has reported the incident to the military authorities who are said to be looking into the matter.
Meanwhile many members of the public are rejoicing that the soldiers have taught the crude LASTMA official that power is stronger than power, for all their atrocities against motorists on Lagos roads.
The impact of the removal of subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, has seen the pump prices of the product skyrocket with a corresponding increase in the cost commercial transportation in Nigeria.
According to the National Bureau of Statistics (NBS), intra-city bus transportation fares across Nigerian cities, measured between May and June 2023, increased from N649.59 to N1,285.41 in June 2023.
This translates to 98 percent growth or N635.82 within the month in view.
The NBS made the data available in its Transport Fare Watch report for June 2023.
In the report, the NBS also shared the breakdown of bus journeys within the cities per drop for constant routes; bus journey intercity (state route); charges per person, amongst others.
On a year-on-year basis, the report has it that bus fares rose by 120.63 percent from N582.61 paid by commuters in June 2022.
The average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023 compared to N4,002.16 in May 2023 indicating an increase of 42.09 percent, month-on-month.
The report read, “The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023.
On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022.
“In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09 on a month-on-month basis compared to N4,002.16 in May 2023.
“On a year-on-year basis, the fare rose by 55.25 per cent from N3,662.87 in June 2022.”
Biztellers reported that the twin forces of forex pressure and increasing price of Brent in the global market would likely see the pump prices of petrol, increased again in no distant time in Nigeria.
2025: Nigerian States Fail To Achieve 60% Budget Execution In 2024
New African Magazine Reveals 2024’s 100 Most Influential Africans (Full List)
Northern Group Condemns Sokoto Bombing, Demands Independent Probe
Nigeria Denies Niger’s Allegations Of Collaborating With France
German President Calls Early Election After Dissolving Parliament
N180m Stolen From NGO Account, Says VDM
OSSG Raises Alarm Over Murder Plot By APC Chieftain
NCC, SMEDAN, NAICOM, SEC, Others Set for SUPERNEWS SMEs Conf June 13
Sahara’s Tonye Cole resigns from GPHCDA
Niger Delta Avengers: President Buhari Reads riot Act …considers the carrot and stick option
Oando opens ultra-modern petrol station in Lagos
