News
Tesla Model 3 used by Police Department reveals massive financial savings
The Westport Police Department in Connecticut has released a new financial analysis that is showing massive savings, as anticipated, after the purchase of a Tesla Model 3 that would be used as a police cruiser. The Police Department reports that it has already helped recoup the purchase price premium and helped save money for the department in its first full year of operation.
After purchasing a Tesla Model 3 in December 2019 and putting it to work in February 2020, Westport PD spokespeople said that the all-electric sedan has already exceeded expectations for performance, cost savings, and environmental benefits. After sparring with the idea of purchasing another Ford Explorer for the police fleet, cost-effectiveness became the big question. There is a $15,300 difference between the Model 3 and the Explorer, but Westport’s PD has no regrets about its decision.
Tesla Model 3 becomes first squad car for Connecticut police department
“The purchase price differential was recouped in the first year due to reduced customization and lower operating costs. All of these have been analyzed in detail,” the department said.
The EV Club of Connecticut completed a vehicle cost comparison analysis after the first year of ownership shows that, despite the additional initial cost of the Model 3, reduced maintenance costs, along with decreased customization needs for the Model 3, gave the department a savings of around $17,600. The ongoing cost of the Model 3 is comparatively less than that of the Ford Explorer based on routine maintenance and fuel costs.
Credit: EV Club of CT
Additionally, the Police Department is also considering purchasing another Model 3 to add to its fleet. After four years of ownership of the “Pilot” Tesla that the department purchased in 2019, the total cost is projected to be $79,400. If another Model 3 is added to the fleet, after four years, it will cost $95,800. The Ford Explorer would be much more expensive, sitting at $120,200.
The Westport Police Department outlined several conclusions after the analysis.
- After four years the Tesla will have saved enough money to buy another Tesla.
- Each EV avoids emission of over 23 tons of CO2 per year and saves $8763 in environmental and health costs.
- There is a $12,582 savings in fuel alone after four years from using electricity to power the vehicle.
- Reduced maintenance. Regenerative braking means that the engine slows the car and recaptures some of the kinetic energy, replenishing the battery and reducing wear on the friction brakes. It is one example of how an EV saves on maintenance. Other examples are no oil changes, spark plugs, transmission, alternator, water pump, or catalytic converter.
- Even during the winter months, the vehicle was able to consistently run two consecutive patrol shifts without needing to be recharged, and there were no operational issues related to charging and battery use.
Credit: EV Club of CT
The Town of Westport audited the financial analysis.
Chief Foti Koskinas, who was a vocal supporter of bringing the vehicle into the fleet, said, “Tesla has been a great partner, including re-coding where necessary. We would not have been able to do things like wire the electronics into the large battery or access the car’s computer without their help.”
Along with the massive cost benefits, the department says the instant torque and performance are key factors in overtaking a suspect’s moving vehicle. This increases the safety of the driver, officer, and other vehicles, as a traffic stop can be completed thanks to the lightning-quick agility of the Model 3 quickly.
Despite the large cost initially, the residents of Westport have been extremely positive. “Feedback from the public has been overwhelmingly positive, Charles Sampson of the Westport PD said. “We’ve have been contacted by at least 50 other police departments – from all over the world – with questions about our experience. I know many of them have gone on to purchase Teslas for their fleets.”
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News
Tesla expands global FSD (Supervised) testing with Abu Dhabi trials
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
Tesla has started its first Full Self-Driving (Supervised) road trials in Abu Dhabi under the oversight of the Integrated Transport Centre, also known as Abu Dhabi Mobility.
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
FSD (Supervised) road trials are being conducted with the support of the Smart and Autonomous Systems Council and in coordination with the Legislation Lab at the General Secretariat of the UAE Cabinet.
Dr. Abdulla Hamad AlGhfeli, Acting Director General of the Integrated Transport Centre (Abu Dhabi Mobility), highlighted the agency’s regulatory role in overseeing the FSD (Supervised) tests in a press release.
“The supervision of the Integrated Transport Centre (Abu Dhabi Mobility) over the commencement of Tesla’s advanced autonomous driving technology tests reflects its regulatory and legislative role. These tests represent a qualitative step to evaluate the technology’s performance in a real-world operating environment and to collect the necessary data to verify its readiness before any future expansion in usage.
“Through this organized framework, and in cooperation with strategic partners, we seek to achieve a balance between supporting innovation and encouraging the adoption of smart solutions on one hand and ensuring the safety of road users on the other, in line with the emirate’s direction to develop an advanced, safe, and sustainable transport system,” he said.
Tesla is putting a lot of effort into expanding the rollout of FSD (Supervised) to territories outside in the United States. During a recent interview with Giga Berlin plant manager Andre Thierig, Musk stated that Tesla is looking to secure approval for FSD (Supervised) in the Netherlands this coming March.
“Tesla has the most advanced real-world AI, and hopefully, it will be approved soon in Europe. We’re told by the authorities that March 20th, it’ll be approved in the Netherlands,’ what I was told. Hopefully, that date remains the same. But I think people in Europe are going to be pretty blown away by how good the Tesla car AI is in being able to drive,” Musk stated.
Elon Musk
SpaceX considering confidential IPO filing this March: report
The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion.
SpaceX is reportedly preparing to confidentially file for an initial public offering (IPO) as soon as March. The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion, potentially making it the largest IPO in history.
The update was initially reported by Bloomberg News, which cited information shared by people reportedly familiar with the matter.
As per the publication, a confidential filing allows a company to receive regulatory feedback before publicly releasing its financials. Bloomberg’s source, however, noted that the timing of SpaceX’s IPO is still under discussion and plans could change.
SpaceX did not immediately respond to requests for comment.
A March submission would mark the clearest step yet toward bringing Elon Musk’s private space company into public markets. People familiar with the preparations said the offering could raise as much as $50 billion. That would surpass the $29 billion debut of Saudi Aramco in 2019, currently the largest IPO on record.
Major banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Bank of America Corp. are reportedly positioned for senior roles in the transaction. SpaceX is also said to be considering a dual-class structure that would allow insiders, including Musk, to retain enhanced voting control.
Satellite communications provider EchoStar Corp., which holds a stake in SpaceX, reportedly saw its shares rise following news of the potential filing.
At a valuation exceeding $1.75 trillion, SpaceX would immediately have a larger market cap than all but five of the companies traded in the S&P 500 index. That figure would place it ahead of Meta Platforms Inc. and Tesla Inc. by market capitalization, trailing only a small group of mega-cap firms such as Apple Inc. and Microsoft Corp.
The scale of the proposed valuation reflects SpaceX’s dominance in orbital launch services and its Starlink satellite network, which serves millions of users globally. The company has also outlined long-term expansion plans tied to higher Starship launch cadence, orbital infrastructure, and lunar development initiatives.
Elon Musk
Elon Musk hints Tesla investors will be rewarded heavily
“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet,” Musk said.
Elon Musk recently hinted that he believes Tesla investors will be rewarded heavily if they continue to hold onto their shares, and he reiterated that in a new interview that the company released on its social accounts this week.
Musk is one of the most successful CEOs in the modern era and has mammothed competitors on the Forbes Net Worth List over the past year as his holdings in his various companies have continued to swell.
Tesla investors, especially those who have been holding shares for several years, have also felt substantial gains in their portfolios. Over the past five years, the stock is up over 78 percent. Since February 2019, nearly seven years ago to the day, the stock is up over 1,800 percent.
Musk said in the interview:
“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet.”
Elon Musk in new interview: “Hold on to your $TSLA stock. It’s going to be worth a lot, I think. That’s my bet.” pic.twitter.com/cucirBuhq0
— Sawyer Merritt (@SawyerMerritt) February 26, 2026
It’s no secret Musk has been extremely bullish on his own companies, but Tesla in particular, because it is publicly traded.
However, the company has so many amazing projects that have an opportunity to revolutionize their respective industries. There is certainly a path to major growth on Wall Street for Tesla through its various future projects, including Optimus, Cybercab, Semi, and Unsupervised FSD.
- Optimus (Tesla’s humanoid robot): Musk has discussed its potential for tasks like childcare, walking dogs, or assisting elderly parents, positioning it as a massive long-term driver of company value.
- Cybercab (Tesla’s robotaxi/autonomous ride-hailing vehicle): a fully autonomous vehicle geared specifically for Tesla’s ride-sharing ambitions.
- Semi (Tesla’s electric truck, with mentions of expansion, like in Europe): brings Tesla into the commercial logistics sector.
- Unsupervised FSD (Full Self-Driving software achieving full autonomy without human supervision): turns every Tesla owner’s vehicle into a fully-autonomous vehicle upon release
These projects specifically are some of the highest-growth pillars Tesla has ever attempted to develop, especially in Musk’s eyes, as he has said Optimus will be the best-selling product of all-time.
Many analysts agree, but the bullish ones, like Cathie Wood of ARK Invest, are perhaps the one who believes Tesla has incredible potential on Wall Street, predicting a $2,600 price target for 2030, but this is not even including Optimus.
She told Bloomberg last March that she believes that the project will present a potential additive if Tesla can scale faster than anticipated.
Tesla expands global FSD (Supervised) testing with Abu Dhabi trials
SpaceX considering confidential IPO filing this March: report
