In an article on Ars Technia, Megan Geuss reported that big automobile companies like Porsche, Mercedes and Audi are flexing their muscles and lining up to launch a colossal new electric car to tackle the ever spiraling fame and sales of Tesla Motors Inc (NASDAQ:TSLA). Elon Musk has recently announced an iteration of Model S, Tesla Motors Inc (NASDAQ:TSLA)’s benchmark in the vehicle industry. The company is looking to sign deals to expand its business inside the US. Geuss said that officials from Porsche, Mercedes and Audi gave interview to German publication Manager Magazine, and claimed that the companies are working together to tackle Model S.
Geuss quoted Porsche’s chairman Matthias Müller, who said that his company is working on Modular Standard Platform (MSP) to make the new electric car. The platform was also used in Panamera, a car which has a hybrid engine. The new all-electric car will be challenging Tesla Motors Inc (NASDAQ:TSLA) in both performance and range. It will be using advanced battery-powered variant, according to AutoCar UK.
The source quoted AutoCar further and said that Tesla Motors Inc (NASDAQ:TSLA)’s Model S will be competed by famous automobile giants in the near future with a light weight electric car. The new car will be 4,647 lbs less in weight as compared to Tesla Motors Inc (NASDAQ:TSLA)’s Model S. The horsepower will also be comparable to Tesla Model S. The article claims that the new car will be synchronous electric motor. Although the rumors are already peaking, the Tesla Motors Inc (NASDAQ:TSLA) competitor electric car won’t be launched until 2018. So Elon Musk has just about enough time to cease the market with some of his new innovative plans.
Geuss said that Mercedes has also confirmed the production of an all-electric sedan to tackle Tesla Motors Inc (NASDAQ:TSLA) but the launch date will be in 2021.
Tesla Motors Inc (NASDAQ:TSLA) shareholders includes Daniel Benton’s Andor Capital Management which reported owning 1.25 million shares in the company by the end of the second quarter.