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Tesla Proves It's All About Range

By Travis Hoium - Apr 10, 2013 at 8:03AM

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NASDAQ: TSLA

Tesla, Inc.

Market Cap

$688B

Today's Change

(-0.34%) -$2.23

Current Price

$661.67

Price as of May 23, 2022, 11:13 a.m. ET

Dropping a smaller battery pack shows why Tesla has the right strategy in EVs.

Tesla Motors (TSLA -0.34%) has been leading the electric vehicle pack, but an announcement by CEO Elon Musk last week proves why it has a huge advantage over competitors: It is dropping a small battery pack for the Model S, focusing on longer-range vehicles that competitors can't match. This will benefit Tesla's current vehicles as well as its drivetrain supply business with Mercedes and Toyota (TM 1.74%).

Stocks Mentioned

Tesla, Inc.

TSLA

$661.67 (-0.34%) $-2.23

Toyota Motor Corporation

$161.42 (1.74%) $2.76

General Motors Company

$36.01 (1.72%) $0.61

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