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Tesla Model 3 Saved Fremont Police $4,000 In A Year

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Tesla Model 3 Saved Fremont Police $4,000 In A Year

A Tesla Inc (NASDAQ: TSLA) Model S vehicle has saved the Fremont Police department $4,000 in fuel costs in a year. 

What Happened: The Fremont police came to the conclusion after putting to test a second-hand 2014 Tesla Model S 85, which they purchased for $61,478.50 in 2018, Electrek reported Wednesday. 

The vehicle was reportedly put through its paces in regular patrol testing and put on the road in 2019.

The police department has released its findings in a report — first noticed on Electrek — whose key findings indicate annual costs of fuel, maintenance, and repair were reduced by $2,147 compared with a Ford Motor Company (NYSE: F) police pursuit vehicle.

The department noted that the vehicle’s 265-mile range met the needs of the patrol vehicles, which cover 40 to 70 miles on average per day.

While the average annual operational CO2 emissions by the Tesla were 0 lbs, the Ford vehicle led to 42,198 lbs of emissions.

Why It Matters: The Fremont Police concluded that Tesla’s technology met police application with results concluding, “The Tesla Model S 85 exceeded performance and operational objectives.”

In terms of cost-effectiveness, the department observed that while the build cost for Tesla S 85 was “slightly higher” than conventional police vehicles, maintenance, repair, and fuel savings “appears to balance or slightly reduce the overall operating cost as projected and compared to the lifespan of a police vehicle.”

The build costs associated with turning the Tesla vehicle into a police car were $6,774.48, while the Ford cost nothing.

This year, the department in Bargersville, Indiana claimed that they expected to save $20,600 in the third year after shifting to a Model 3.

In September the police in Holland, Michigan were reported to be considering a Tesla sedan for fighting crime.

Price Action: Tesla shares closed 2.6% higher at $499.27 on Thursday and fell 1.26% in the after-hours session. 

Photo courtesy of Wikimedia

 

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