Beating out some impressive competition—including the Cadillac ATS—the Tesla Model S has been recognized by Automobile Magazine as 2013 Automobile of the Year. The company, founded by PayPal billionaire Elon Musk and funded by a $465 million loan from the Department of Energy, has redefined the electric car. More power than ever believed achievable has convinced even the most conservative energy of the potential of gasoline free engines.

For the full rationale behind the award, head to Automobile.

Other prize winners include the Porsche Boxster (2013 Design of the Year) and Sergio Marchionne, recognized as Man of the Year for his work at Chrysler.

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