A victory by Mitt Romney will have a minor impact on electric cars, says Tesla CEO

Article by Christian A., on June 28, 2012

If Republican Mitt Romney wins as U.S. president, the impact on the electric-car segment would be “minor,” according to Tesla Motors CEO Elon Musk. On June 22, Tesla delivered its first Model S sedans to retail customers during a ceremony at Tesla’s Fremont plant to signal the start of production.

Tesla was able to build this factory when it was granted a low-interest loan in 2009 under a federal program, which Romney has been highly critical of. Musk told reporters in Fremont about the momentum that the EVs have right now. He also pointed out that the Model S will make sure that this continues.

Musk is aiming to make Tesla into the first EV company that reaps profits as it sell a high volume of cars, accrding to Bloomberg. The pricing of the Model S starts at $57,400 and could go up to $105,400, before accounting for a $7,500 federal tax credit.

Tesla has set a goal to deliver at least 5,000 units of the Model S in 2012 and 20,000 units in 2013. In Romney’s speeches, he referred to firms like Tesla and Fisker Automotive Inc. as proof of “crony capitalism,” saying that they’re bad policy decisions of the current U.S. administration.

Fisker was also granted a federal loan to build the plug-in Karma luxury sedan. Musk said that he’s not certain that Romney is totally opposed to electric vehicles.

Topics: tesla, electric car

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