By: Tomas Ronolski - AllPennyStocks.com News

Friday, January 31, 2014

Sports cars are, well, really cool. Guys love them. Girls love them. People of all ages love them. In the electric car space, the unprecedented leader of cool is Tesla Motors. From their flamboyant founder and chief executive Elon Musk to their pricey Model S Performance, the company exudes confidence and performance. Now it looks like the earth-friendly flare of the Tesla is about to take on a more aggressive stance as electric meets muscle. Saleen Automotive, Inc. (OTCQB:SLNN), an American specialty manufacturer of ultra-high performance vehicles and parts, said Thursday that it plans to produce the first ever Saleen Tesla (Nasdaq:TSLA) Model S sports car. Headed by Steve Saleen, the brand is known worldwide as synonymous with speed and performance, especially for its highly modified versions of Ford Mustangs.

The company amps up much more than just Mustangs, though, including Chevy Camaros, Dodge Challengers and exotic vehicles. In fact, the company was featured in this month’s edition of Motor Trend in an article called, “New Saleen Supercar Coming,” which discusses Saleen’s new car that is expected to compete with supercars like the Ferrari 458, McLaren 12c and Lamborghini Gallardo.

Sitting alongside those vehicles in the future is surely what will be the quietest running car that Saleen has been involved with, the all-electric Tesla. The company does not have a release date yet and only offered that some renderings will be forthcoming as the research and development work progresses. Saleen intends to also provide some details on other enhancements that it plans to add to the Model S.

“I fully intend to produce one of the most compelling Tesla’s to ever hit the roadway,” said Steve Saleen in a prepared statement Thursday.

Given the venerable brand name, Saleen stock has stayed trading at low levels, including only a $33.7 million market capitalization currently. That valuation is arguably deserved at the moment with the company losing $3.6 million in the six months ended September 30, 2013. The losses are noticeably growing from the year prior, but so is revenue, which rose 272 percent to $2.5 million in the first half of fiscal 2013. Those people that are of the mindset that “if a young company isn’t losing money, then it’s not trying to grow fast enough,” may want to take a look at the initiatives behind Saleen that drove net losses upward as the losses were mostly attributed to adding personnel and facility expansion.

The company has a new supercar in development, the new Tesla vehicles in development and plans for retail locations in addition to its legacy projects. Saleen also said this month that advertising agency Havas Edge has been hired for a new “dynamic” ad campaign. It looks like the company is ready to shift into a higher gear, making this speedster one to keep an eye on going forward. Proper due diligence is, as always, encouraged.

Copyright © 2013 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.