Tesla CEO Says 500-Mile-Range Electric Car Is Not Far Off

Musk also plans to set up a colony on Mars

   

Tesla CEO Says 500-Mile-Range Electric Car Is Not Far Off

A car with a 500-mile range is withing sight, according to Tesla (TSLA) CEO Elon Musk.

35 300x199 Tesla CEO Says 500 Mile Range Electric Car Is Not Far Off
Source: ©iStock.com/JasonDoiy

The tech mogul spoke of his company’s future in an interview and discussed the possibility of an electric car with a range of 500 miles. The Tesla Model 3 is the company’s most recent creation and the vehicle can travel for 200 miles and the future of electric vehicles seems to be even more exciting.

“It will be possible to have a 500-mile range car,” Musk said. “In fact we could do it quite soon, but it would increase the price. Over time you could expect to have that kind of range.”

The Tesla boss also said that a self-sustaining base on Mars is also a possibility with SpaceX, Musk’s space tech company. “The long-term goal of SpaceX is to develop technologies necessary to establish a self-sustaining base on Mars, essentially to make life multi-planetary,” he said.

“I’m optimistic about it.”

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Article printed from InvestorPlace Media, http://investorplace.com/2014/07/tesla-tsla-stock/.

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