Tesla announces Infinite Mile Warranty for Model S
20 Aug 2014|3,160 views
That means the Model S, Tesla's most popular model by far, now has an eight-year, infinite mile warranty on both the battery pack and drive unit. There is also no limit on the number of owners during the warranty period.
"In hindsight, this should have been our policy from the beginning of the Model S program. If we truly believe that electric motors are fundamentally more reliable than gasoline engines, with far fewer moving parts and no oily residue or combustion byproducts to gum up the works, then our warranty policy should reflect that," said Elon Musk, CEO of Tesla Motors.
"To investors in Tesla, I must acknowledge that this will have a moderately negative effect on Tesla earnings in the short term, as our warranty reserves will necessarily have to increase above current levels. This is amplified by the fact that we are doing so retroactively, not just for new customers. However, by doing the right thing for Tesla vehicle owners at this early stage of our company, I am confident that it will work out well in the long term," added Musk.
Tesla has announced that its Model S drive unit warranty has been increased to match that of the battery pack.
That means the Model S, Tesla's most popular model by far, now has an eight-year, infinite mile warranty on both the battery pack and drive unit. There is also no limit on the number of owners during the warranty period.
"In hindsight, this should have been our policy from the beginning of the Model S program. If we truly believe that electric motors are fundamentally more reliable than gasoline engines, with far fewer moving parts and no oily residue or combustion byproducts to gum up the works, then our warranty policy should reflect that," said Elon Musk, CEO of Tesla Motors.
"To investors in Tesla, I must acknowledge that this will have a moderately negative effect on Tesla earnings in the short term, as our warranty reserves will necessarily have to increase above current levels. This is amplified by the fact that we are doing so retroactively, not just for new customers. However, by doing the right thing for Tesla vehicle owners at this early stage of our company, I am confident that it will work out well in the long term," added Musk.
That means the Model S, Tesla's most popular model by far, now has an eight-year, infinite mile warranty on both the battery pack and drive unit. There is also no limit on the number of owners during the warranty period.
"In hindsight, this should have been our policy from the beginning of the Model S program. If we truly believe that electric motors are fundamentally more reliable than gasoline engines, with far fewer moving parts and no oily residue or combustion byproducts to gum up the works, then our warranty policy should reflect that," said Elon Musk, CEO of Tesla Motors.
"To investors in Tesla, I must acknowledge that this will have a moderately negative effect on Tesla earnings in the short term, as our warranty reserves will necessarily have to increase above current levels. This is amplified by the fact that we are doing so retroactively, not just for new customers. However, by doing the right thing for Tesla vehicle owners at this early stage of our company, I am confident that it will work out well in the long term," added Musk.
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