Tesla's Biggest Order to Date
Apr 7th 2013 1:31PM
Updated Apr 7th 2013 1:36PM
Electric-car maker Tesla Motors is off to a fast start this year. The California-based company kick-started 2013 by increasing production on its Model S sedan, unveiling a new finance product, and celebrating its first profitable quarter as a public company. Not bad for a little EV start-up that few had heard of until recently. Still, many analysts worry that demand for Tesla's Model S may begin to stall as the year unfolds.
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Once again, the critics appear to be wildly shortsighted. Not only is Tesla cranking out Model S deliveries, counting more than 4,750 cars in the first quarter, but the company is also beefing up its backlog of orders. Last month, Tesla secured its largest U.S. Model S reservation in the company's history.
Downtown Project and Project 100 have committed to buy 100 zero-emission Model S cars from Tesla, in an effort to revitalize downtown Las Vegas. Zappos CEO Tony Hsieh is heading up the Project 100 initiative, and Vegas residents who become members will have on-demand access to cars, bikes, shuttle buses, and other modes of transportation.
So why Tesla? The Project 100 team liked the high-tech nature of the Tesla Model S platform, particularly because it gives them more control over the member experience while also letting Project 100 collect valuable data about how members are using the vehicles.
This is Tesla's largest single customer order to date, and I suspect that Model S demand will continue to surge in the quarters to come.
Near-faultless execution has led Tesla Motors to the brink of success, but the road ahead remains a hard one. Despite progress, a looming question remains: Will Tesla be able to fend off its big-name competitors? The Motley Fool answers this question and more in our most in-depth Tesla research available for smart investors like you. Thousands have already claimed their own premium ticker coverage, and you can gain instant access to your own by clicking here now.
The article Tesla's Biggest Order to Date originally appeared on Fool.com.Fool contributor Tamara Rutter owns shares of Tesla Motors. The Motley Fool recommends and owns shares of Tesla Motors . Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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