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Inland Empire Business News for May 13th, 2014.002
Inland Empire Business News for May 13th, 2014.002

Electric car dealer opens in Cathedral City

An electric car company has opened its first Inland Empire dealership.

Tesla Motors held a grand opening ceremony Friday for its sales and service center at 68080 Perez Road in Cathedra City, according to a report first published by The Press-Enterprise.

Besides the opening ceremonies, the event included interactive displays and a chance to drive Tesla’s Model S Sedan, which is the first car of its kind designed from the ground up to be an electric car, according to the report.

The Model S has gotten positive reviews from consumer magazines, but Tesla is still a struggling start-up business: the Palo Alto-based company reported losses of nearly $50 million during the first quarter of this year.

Tesla’s research and development costs rose by nearly 50 percent during the quarter, to $81.5 million, which is one reason for the company’s large quarterly losses.

Tesla, which is tweaking its cars so they can be sold overseas, made more than 7,500 Model S sedans during the first quarter and sold more than 6,400 hundred of them, according to the report.

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