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TheStreet Open House

Tesla Motors Inc (TSLA) Wins Tech Of The Year Award

Tesla Motors Inc (TSLA)’s innovations have been setting new benchmarks in the automobile industry. The electric vehicle maker’s Supercharger network has won the AOL Auto‘s Technology Of The Year award. Today, there are only 54 Supercharging stations in the U.S., but Tesla Motors Inc (TSLA) plans to reach 80% of the population by the end of 2014, and to 98% a year later. The Elon Musk-led automaker is also expanding its Supercharger network in Europe.

Tesla defeats Chevrolet, Mercedes and Volvo

AOL Autos’ Multimedia Director Adam Morath said that Tesla Motors Inc (TSLA)’s Supercharger network is undoubtedly a game changer. And it fully deserves the Technology Of The Year award. It can fully charge a Model S sedan is less than an hour, compared to about 8 hours using conventional outlets. The panelists said that Tesla Motors Inc (TSLA)’s amazing technological breakthroughs in the EV niche are putting even giant automakers to shame.

The Palo Alto-based company has shown that electrification of the automobile is entirely possible by addressing charge time, range, clean energy production and charger accessibility. Tesla Motors Inc (TSLA)’s Superchargers are powered by solar energy. Its competitors for the award included Infiniti Backup Collision Intervention, Chevrolet MyLink Valet Mode, Mopar In-Vehicle Wireless Charging for Portable Devices, Volvo Cyclist and Pedestrian Detection with Full Auto Brake, and Mercedes-Benz Intelligent Drive.

Tesla CEO confident of Supercharger network

Superchargers are spread across the United States, making it feasible to go from coast-to-coast without any hassle. They are strategically placed near cafes, shopping centers, motels and roadside diners so that people can go eat or do some other stuff while their electric car is being charged. AOL Auto said that there has never been any complaint about the Superchargers in the U.S. or Europe. Tesla Motors Inc (TSLA) has made electric vehicles as convenient as traditional gas-powered cars.

Tesla Motors Inc (TSLA) founder and chief executive Elon Musk has planned to take a family trip across the U.S. in a Model S in March. It shows Musk is confident that he won’t have any trouble charging the vehicle.

Tesla Motors Inc (TSLA) shares went up 1.32% to $153.05 at 9:35 AM EST.

The post Tesla Motors Inc TSLA Wins Tech Of The Year Award appeared first on ValueWalk.

-By Vikas Shukla

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