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USA: Tesla to Release a New Electric Car Made in Fremont

The latest electric vehicle to hit the road can accelerate from 0 to 60 miles per hour in 4.4 seconds with barely a sound. But will it overtake the competition?

Elon Musk, CEO of Tesla Motors, says his company has already set the trend, forcing other automakers to launch their own electric vehicles for fear of being left in the dust. Tesla will release its second all-electric vehicle on June 22.

But Tesla faces a slippery road ahead. The high price and low range of the company’s new Model S have led many on Wall Street to bet against the company, making it one of the most shorted stocks on the NASDAQ stock exchange.

The basic model, for $50,000 (after federal rebates) can reach 150 miles on a fully charged battery. A fully loaded $100,000-version of the Model S can go 300 miles without a recharge.

The California Report correspondent Alison van Diggelen visited the factory on June 14, where she got the information used in this report.

At the factory, Gilbert Passin, VP of manufacturing, explained the care the company is taking to impress its first buyers. “The people working here know this is the end of the line, so it has to be good,” he said.
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