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Tesla Unveils Quick-Swap Battery Stations

By  +Follow June 21, 2013 11:19AM
Tickers Mentioned:

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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Results for TSLA
22 Oct 14 19:09:11
Daimler Closes Hedge, Dumps Tesla, Grabs Cash, Runs http://t.co/Uq9D52wCw1 $TSLA
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22 Oct 14 19:08:02
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Bidness Etc
22 Oct 14 19:00:08
Tesla Model S could be priced higher than current expectations and that Tesla could miss its 2020 sales target http://t.co/C2yIMQeY76 $TSLA
Gary Manzano
22 Oct 14 18:53:54
@canuck2usa Nice $GS trade. $TWTR & $TSLA have similar pattern #bearflag
22 Oct 14 18:11:02
Priceless material for continual profit in the #stock #market http://t.co/VHF6GbCTvC $SPX $DJI $RUT $NDX $AAPL $FB $TWTR $LNKD $TSLA $GS $V
22 Oct 14 18:08:06
$TSLA came within pennies of filling the opening gap. Appears may see low $220's before mounting a run again. #stocks #trading
22 Oct 14 17:37:04
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22 Oct 14 17:35:50
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Video Resistance $AAPL $AMZN $BIDU $CAT $TWTR $FB $HAL $DIS $GOOGL $TSLA $DJIA $NFLX $SBUX $SPX $COMPQ http://t.co/oNh8Kfrq1L
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RT @StockSignaling: After Hours Volume Leaders: $YELP $EMC $CREE $HPQ $MAT $TXN $KEY $HST $ODP $JCP $HAL $TSLA $AVNR $FSP $RDN http://t.co/…
Stock Signaling
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live to surf
22 Oct 14 16:56:21
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Not good for $TSLA??? http://t.co/HEQyW2uPNI
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[VIDEO] Mid-Week Update with @2kaykim | $SPY $DIA $QQQ $IWM $SPX $RUT $COMPQ $TLT $TSLA $AAPL | "The Final Push?" http://t.co/HxyAtNkJxF
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22 Oct 14 16:23:10
There was a comment earlier and it got me thinking. $TSLA Is there ANY brand that you can buy ONLY from its producer and nowhere else?
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22 Oct 14 16:18:58
$FNMA Message Board Posts Click Here: http://t.co/RSFB3c1fe1 Also See: $EBAY $TSLA $HD $XLF ~
22 Oct 14 16:17:50
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22 Oct 14 16:00:02
Kay Kim
22 Oct 14 15:58:13
[VIDEO] Mid-Week Update with Kay Kim - "The Final Push?" $SPY $DIA $QQQ $IWM $TLT $TSLA $AAPL $RUT $SPX $COMPQ http://t.co/yUEjyzsUT3
22 Oct 14 15:55:52
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22 Oct 14 15:55:50
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After an early bet on Tesla, Daimler cashes in https://t.co/geVfTj4n7x via @gigaom $TSLA
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22 Oct 14 15:23:44
Stock Relay
22 Oct 14 15:20:54
$AMBA News Click Here: Also See: $CENX $SDRL $CDE $TSLA ~
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Option Voyeur
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This straddle thing in both $GPRO & $TSLA is a complete experiment, anybody straddle weekly momos?
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live to surf
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22 Oct 14 14:23:29
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22 Oct 14 14:19:01
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Mark B. Spiegel
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ARK Indu Innovation
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2/ Out of the 3, $TSLA has superior tech because it offers the quickest charge (recall TSLA battery is bigger than others).
22 Oct 14 14:00:03
22 Oct 14 14:00:02
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RT @paulwoll: https://t.co/iFoVMPL4pE $TSLA into tomorrow note these flags/ascending wedge breakdowns....
Woll Street
22 Oct 14 13:59:06
https://t.co/iFoVMPL4pE $TSLA into tomorrow note these flags/ascending wedge breakdowns....
live to surf
22 Oct 14 13:58:03
RT @markbspiegel: "Why Daimler doesn't share investors' love affair with $TSLA " http://t.co/le8RVyNMPR (Hint: because Daimler knows how to…
By  +Follow June 21, 2013 11:19AM



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