Tesla Motors Inc (TSLA)’s Model S Reinvented by Saleen Automotive Inc (SLNN)


Tesla Motors Inc (NASDAQ:TSLA)’s flagship all-electric car, the Model S, is arguably the world’s most popular electric vehicle out there. The car starts at $70,000 in the U.S., but carries different price tags with certain options and also in other markets. However, Saleen Automotive Inc (OTCBB:SLNN) is offering a performance car that borrows a leaf from Model S design, but not the price as the car known as Foursixteen asks for $152,000, Bloomberg stated in an article on Yahoo! Finance.

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Steve Saleen’s Saleen Automotive Inc (OTCBB:SLNN), which is well-known for tuning mostly gasoline vehicles, such as those from General Motor Company (NYSE:GM) and Ford Motors Company (NYSE:F), has turned its attention to Tesla Motors Inc (NASDAQ:TSLA)’s Model S. That marks Saleen’s entry into all-electric car segment, which he said was no longer a concept but a trend.

Saleen Automotive develops, manufactures and sells cars that offer high performance, but are mostly based on chassis of other popular models such as Ford Mustang, Dodge Challenger and Chevrolet Camaros.

The Foursixteen extends the green effort that Tesla Motors Inc (NASDAQ:TSLA) believes in, but throws in more that gives users the performance and luxury that they may want. When the car was parked on Concours’ concept lawn, people began to inquire about purchasing the vehicle.

According to Saleen, the Chairman and CEO of Saleen Automotive, Foursixteen will appeal to the individuals that want to have the luxury that also comes together with style. However, at $152,000, the car is double the cost of Tesla Motors Inc (NASDAQ:TSLA)’s Model S. Tesla, which is led by Elon Musk, was not involved in the efforts of Saleen towards the development of Foursixteen.

Tesla Motors Inc (NASDAQ:TSLA) makes and sells its all-electric cars in the U.S., Europe and China. The company plans to launch its next car model known as Model X, which will be an SUV. It also has plans for a mass-market car, which is likely to come known as the Model 3, expected later in 2017. In the meantime, Tesla is preparing to launch its mega battery project, the Gigafactory,  which will require a $5 billion investment made in partnership with Japan-based Panasonic.

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