(AP)
Score one for Silicon Valley.
While Detroit’s car industry is generating quite a comeback story, the $50,000 all-electric Tesla sedan — born in Palo Alto in the heart of high-tech country — copped Automobile magazine’s Car of the Year title.
The Model S, which goes from 0 to 60 mph in a stunning 4.3 seconds, “blew away” the competition, including the BMW M5 and the Porsche Boxster, according to the magazine’s editors.
The magazine describes the battery-powered sedan as “revolutionary.” It even compared it to Apple products like the iPhone.
The entry-priced, five-seat model can go 160 miles on a charge. Models range up to a $100,000 and can go up to 300 miles on a single charge.
The award comes at just the right time for Tesla, started by PayPal co-founder Elon Musk. The company recently cut revenue forecasts and has been struggling to meet production deadlines.
Looming over Musk’s head are also growing questions about whether he will be able to repay a $465 million loan Tesla received from the Department of Energy in 2008.
Musk, who has sold about 250 Model S cars out of 13,000 reservations, said he expected the money-losing company to become profitable this month.
Tesla is expected to begin repayment of the loan next month, Musk has said.
Automobile loved the Model S design, including a 17-inch touch-screen pad that replaces the traditional dashboard.
Drivers can also use it to check e-mail and surf the Web.