Tesla scores a big victory for electric cars as they break into the auto market.
By Sam Frizell | Time Business & Money
Tesla Model S landed at the top of Consumer Reports‘ highly regarded annual top-10 autos list on Tuesday, making a good day for Tesla CEO Elon Musk even better after a Wall Street analyst’s bullish forecast catapulted shares upward.
Consumer Reports gave the electric-powered vehicle top honors for its “blistering acceleration, razor-sharp handling, compliant ride, and versatile cabin,” adding that the Tesla Model S is “a glimpse into the future.”
The glowing review came shortly after Morgan Stanley analyst Adam Jonas said Tesla warrants a share price of $320, the Wall Street Journal reports. Tesla produced less than 23,000 vehicles last year at a price tag of $89,000, but Jonas sees the company hitting 370,000 vehicles a year by 2020. Tesla is expected to announce plans to build a new battery factory that will lower the cost of batteries.
Read more: Tesla Model S Is The Best Car Of 2014, Consumer Reports Says | TIME.com http://business.time.com/2014/02/25/tesla-model-s-consumer-reports/#ixzz2vK9W8ysK