Tesla Motors, Inc. (TSLA) announced that it will offer an upgrade for its older Roadster model to Roadster 3.0 from spring 2015. The upgraded vehicle will have better battery, new tires and other improvements and will offer 40% to 50% better range and mileage compared to the older version.
Tesla has recorded improvement in battery technology while developing the Model S. In the Roadster 3.0, Tesla will employ a new cell which will offer 31% more energy compared to the original Roadster cell. The battery pack of Roadster 3.0 with this new cell will deliver around 70kWh.
Along with the battery upgrade, Tesla’s Roadster 3.0 will also be offering improvements in aerodynamics and rolling resistance. The original Roadster had a drag coefficient (Cd) of 0.36. In Roadster 3.0, the automaker will be utilizing modern computational methods which will provide 15% improvement, thus reducing the total Cd to 0.31 with a retrofit aero kit.
The Roadster 3.0 tires will have a rolling resistance coefficient (Crr) of roughly 8.9 kg/ton, 20% improvement from the older Roadster which offers a Crr of 11.0 kg/ton. In addition, the electric automaker is making improvements in the wheel bearings and residual brake drag. This will further reduce the overall rolling resistance of the vehicle.
Tesla will be demonstrating the Roadster 3.0 during a non-stop drive from San Francisco to Los Angeles in early 2015. The company said that under certain speed and driving conditions, the Roadster 3.0 can travel more than 400 miles on a single charge. The older Roadster travels 245 miles on a single charge.
Tesla discontinued the production of Roadster in 2012 in order to focus on the Model S. The company is waiting for the safety validation of the new battery pack, following which it will start taking appointments for upgrading the older Roadster vehicles.
Currently, Tesla carries a Zacks Rank #5 (Strong Sell). Better-ranked automobile stocks worth considering include Dana Holding Corp. (DAN), Meritor, Inc. (MTOR) and Tower International, Inc. (TOWR). All these stocks sport a Zacks Rank #1 (Strong Buy).
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