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Saturday 3 October 2015

TESLA'S MUSK UNVEILS LONG-AWAITED MODEL X, STOCK RISES

Silicon Valley electric carmaker Tesla has unveiled its third model so far - a sports-utility vehicle distinguished by its double-hinged "falcon wing" rear doors, which unfurl themselves upwards to help parents put their children inside. The company's stock rose 2% after the event.

The Model X was launched nearly two years later than originally scheduled.

The firm's chief executive Elon Musk acknowledged that the "difficulty in engineering" some of the parts involved had been greater than he had initially estimated.

The car can fit seven people and can travel about 250 miles (400km) on a single charge. It reaches top speeds of 155 miles per hour, and goes from zero to 60 mph in 3.8 seconds (3.2 seconds in the “ludicrous” upgrade, which is $10,000 extra.)

Unlike gull wings of the past, the falcon-wing door has two hinges to better negotiate tighter spaces, Musk said. The doors also have sensors that can measure ceiling heights and gauge various obstacles helping navigate around them.

The price runs as high as $144,000 and is expected to cool demand, analysts say.

Tesla first showed a concept for the car in 2012, with an initial target launch of late 2013. The car has been constantly delayed while sales of the Model S sedan — the first all-electric car fully designed and constructed by the Silicon Valley auto maker — picked up. The company hopes to start production on its next car, the Model 3, in about two years, according to Musk, and price it lower for mass-market consumption.

Credit: mql5.com

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