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Tesla Motors Quietly Increases Range to 500 Miles – Sort of (TSLA)

Tesla motors inc model s

After shelling out some serious cash for a Tesla the last thing owners expect is that they’ll find themselves stranded on the side of the road in a beautiful car that just won’t move.  Towing coverage is part of the warranty that comes with Tesla EVs but until now, that coverage was good for only 50 miles.  The company will now cover the cost of towing up to 500 miles. That’s nearly double the range of a normal full charge (smiley face). The coverage is good for eight years with unlimited miles, if there is an issue with the battery and drive system. Tesla and their customers hope they’ll never need to use the service but it’s there if they do.

Tesla motors inc model s

Tesla doesn’t want drivers to worry

Earlier, if Tesla Motors Inc got stranded on the side of the road and needed to be towed, it would be covered under the Tesla’s roadside assistance program for only up to 50 miles. So, if one lives in a state without a Tesla dealer, then 50 miles doesn’t get him anywhere. That’s all changed now as the automaker has expanded its tow distance.

The policy doesn’t apply if you have crashed your car, left your keys inside the car or if your Tesla has a flat tire, claims the automaker’s fine print. The 500-mile limit only applies to “warrantable” issues i.e. the things that should have been covered under the new vehicle warranty.

Thus, only Tesla’s suffering from mechanical issues, which are covered under the car’s infinite-mile warranty, will be applicable for the 500-mile towing coverage and it is a good thing. As per the data collected by Plug-in America and analyzed by Green Car Reports, two-thirds of early Tesla powertrains needed replacing within 60,000 miles.

This new policy to expand towing coverage indicates the automaker’s intent to offer exemplary customer service. It will at the same time subdue the worries and gain confidence of current and potential Tesla owners.

Recently, the electric carmaker ended its policy of allowing owners to transfer extended factory warranties to the second-hand customer. However, the firm reversed course a day later, and reinstated the transfer of extended warranties after public protest.

Tesla to debut in Ireland

In separate news, Tesla Motors Inc CEO – Elon Musk – made it official that the firm will make its debut in Ireland in 2016. The premium electric vehicles, which boast acceleration as low as 0-60 MPH in 2.8 seconds, will undoubtedly be very expensive. It is estimated that will cost around €73,500 ($102,268), says a report from Insideevs.

Plans to open a dealership and a service center in Ireland have not yet been disclosed by Tesla. Currently, the Nissan Leaf and Volkswagen’s eGolf are sold in Ireland.

On Thursday, Tesla shares closed up 4.71% at $187.43. Year to date, the stock is down almost 22% while in the last one-year, it is down almost 14%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.