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Tesla Unveils Quick-Swap Battery Stations

By  +Follow June 21, 2013 11:19AM
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Elon MuskIn a presentation on Thursday night, Tesla (TSLA) CEO Elon Musk unveiled a new quick-swap battery option for Tesla Model S owners who want the option to fully charge their vehicle in seconds.

Originally, Tesla’s charging stations only enabled the Model S to charge its battery via plug-in for 30-40 minutes. Now, owners have the option to swap out the old battery for a fully charged battery in around 90 seconds.

The announcement is major news for Tesla because it dismisses a strong case against its vehicles. Previously, if a Model S owner wanted to take a trip across the continental United States, the driver would have to recharge at least 10 times and wait up to 40 minutes per charge.  The battery swap solves this issue entirely.

“What we really wanted to show is that (our cars) can actually be more convenient than a gasoline car,” Musk said. The company also announced that the first battery swap stations will be located off the I-5 in California and along the Boston-DC route to facilitate popular long drives.

In the on-stage presentation, Tesla replaced the batteries of two Model S vehicles in around 93 seconds each. Meanwhile, an Audi A8 on display took around four minutes to fill and cost almost $100.

Each battery swap will cost Model S owners money, but Musk claims it will cost no more than gasoline on a per-mile basis.  Supercharging, however, will remain free.

“The only decision you need to make when you come to one of our Model S stations is do you prefer faster or free?” Musk said. “Hopefully this is what convinces people finally that electric cars are the future.”

On the news, Tesla shares rose around 3 percent early Friday morning and then sold off with the market by afternoon. Shares were off 0.1 percent to $100.47 during afternoon trading.                                                                                       

The video of the presentation is available at this link:

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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msputoptions
24 Nov 14 05:47:04
$TSLA 246.50 = bullish pre-market
Ryan Sellers
24 Nov 14 05:46:15
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24 Nov 14 05:43:59
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24 Nov 14 05:43:20
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24 Nov 14 05:42:30
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24 Nov 14 05:39:57
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24 Nov 14 05:37:54
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24 Nov 14 05:37:16
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24 Nov 14 05:36:13
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24 Nov 14 05:36:09
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24 Nov 14 05:35:51
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24 Nov 14 05:29:38
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Eternity101
24 Nov 14 05:29:36
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Mark
24 Nov 14 05:28:28
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24 Nov 14 05:27:04
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24 Nov 14 05:27:00
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24 Nov 14 05:26:57
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24 Nov 14 05:26:53
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24 Nov 14 05:25:10
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24 Nov 14 05:24:21
$TSLA TOP OI CHANGE: Nov. 28, 2014 CALL 250.00 : +1.128 | Nov. 28, 2014 CALL 260.00 : +1.041 CONTRACTS ADD
Joe Esposito
24 Nov 14 05:23:44
RT @TeslaAgnostic: $tsla german factory statement is reaching a new level of farce on the side of the musk, car companies talk to each othe…
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24 Nov 14 05:23:36
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Joe Esposito
24 Nov 14 05:23:06
RT @markbspiegel: $TSLA Norway recall significance isn't the potential $15M. It's more evidence of Musk deception when he downplayed repair…
Joe Esposito
24 Nov 14 05:22:07
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24 Nov 14 05:19:35
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24 Nov 14 05:18:45
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24 Nov 14 05:18:02
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24 Nov 14 05:17:57
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24 Nov 14 05:17:55
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24 Nov 14 05:17:54
$TSLA - MARKET SNAPSHOT: U.S. Stocks: Futures Higher At The Start Of Holiday-shortened Week http://t.co/hMZD9gFXu4
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24 Nov 14 05:17:42
$TSLA - MARKET SNAPSHOT: U.S. Stocks: Futures Higher At The Start Of Holiday-shortened Week http://t.co/Po5hcZ39p6
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24 Nov 14 05:17:38
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24 Nov 14 05:17:37
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24 Nov 14 05:13:53
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24 Nov 14 05:13:25
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24 Nov 14 05:12:35
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24 Nov 14 05:12:34
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JA
24 Nov 14 05:08:07
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TradersRule 25/7
24 Nov 14 05:08:04
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Guru Algo Trading
24 Nov 14 05:06:29
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24 Nov 14 05:05:52
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By  +Follow June 21, 2013 11:19AM
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