Tesla Motors (TSLA:NASDAQ) lost one Abu Dhabi investor as the Abu Dhabi National Energy Co. sold its 7% stake in the company earlier this month. Despite this, Tesla has a strong summer coming up on the back of new models and renewed demand in the U.S. automotive sector, especially for electric vehicles. The automotive company plans to launch a plug-in electric $57,400 Model S sedan whose deliveries are expected to start in the July of this year. The base model will have a driving range of 160 miles (260 km) when fully charged, and will reach from 0 to 60 mph (0 to 97 km/h) in 6.5 seconds.
The model has garnered huge interest among buyers and has over 8,000 pre orders as of December. The model will compete against the plug in Fisker Karma apart from traditional luxury vehicles like BMW Series 5 and Mercedes E class. Tesla Motor’s Tesla Roadster sports car is among the top sellers along with Toyota Motor Corp’s (NYSE:TM) Prius hybrid and General Motors Co. (NYSE: GM)’s Chevrolet Volt plug-in hybrid electric car.
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The U.S. auto industry is also heating up and the sales are currently on an all time high. According to a report by Bloomberg, electric-vehicles, including hybrid, plug-in and pure battery models have grown at the fastest clip in the U.S. auto market in the first quarter. Sales of these models rose 49 percent to 117,182 vehicles in the first quarter, from 78,527 a year earlier. 
We currently have a Trefis price estimate of $38 which is about 20% above the current market price.Notes:
- Gas near $4 boosts U.S. demand for electric drive vehicles, Bloomberg, 4 April, 2012 [↩]