According to Tesla's 10-K reporting, the Model S provides a lower cost of ownership as compared with other vehicles in its class, when purchase price, cost of fuel and the cost of maintenance over a six year ownership period are taken into consideration." This calculation assumes the residual values, warranties, insurance costs and promotions, and customer incentives of other cars in the luxury sedan-class. At cur-rent conditions of 11.2 cents per kilowatt-hour and $3.32 per gallon (average prices for electricity and gasoline across US, see Figure 4), the cost of fuel for the Model S is expected to be approximately $1 800 per year less than would be the case for a comparable premium internal combustion engine sedan. Fewer moving parts and the absence of certain components, such as oil, oil filters, spark plugs and engine valves, mean lower maintenance expenses than comparable premium conventional internal combustion engines (ICEs). The Model S is designed on the basis of an adapt-able platform architecture and common electric powertrain that is intended to be leveraged by creating more electric vehicle models in the future. The powertrain and battery pack have a modular design, which will make it possible for future generations of electric vehicles to incorporate a significant amount of this technology. The upcoming Model X is designed as a crossover to fill the niche between the roominess of a minivan and the style of an SUV, powered by an all-wheel drive system. Tesla also plans to launch the Model E (Gen 3), a compact car with a range of per-haps 400 miles that would cost just $35 000.