Added interest in Tesla as UAE firm buys stake

It seems that Tesla Motors will soon become a prominent player in the car market! Though its sports car, Roadster, is currently the company's only vehicle on the market, still the U. S. government and a fund in Abu Dhabi are depending upon the company's electric cars to enter the mainstream one day.

It was confirmed by the U. S. Department of Energy in June that it will lend a sum of $465 million to Tesla, in order to help it develop green car technology. Monday saw part of the 10% stake in Tesla being acquired by Aabar Investments. Tesla was paid $50 million for the same stake in May by German's Daimler AG.

It won't be wrong to say that the Roadster is not a car exactly meant for masses, as it has been designed loosely based on the Lotus Elise sports car. However, Tesla claims that its 248-horsepower motor accelerates it to 60 mph in under four seconds.

In spite of all this, both the government and Tesla's investors hold a firm belief that the carmaker is destined to be more than just a fringe player.

Rachel Konrad, company's spokeswoman said: "Tesla didn't start with the Roadster because the founding team thought that the world needed another sports car. Rather, they knew that aiming at the high end of the market would allow them to turn a profit ... then cascade it down to more affordable cars."

The price of the vehicle, which will go for sale in late 2011 and travel as far as 300 miles on a charge, is expected to be nearly $49,900, following a $7,500 federal electric car rebate. It was specified by Tesla that already it has received more than 1,000 reservations for the vehicle.