Matt DiLallo speculates that Tesla's aluminum intensive Model S could be harbinger of greater use of the metal by other carmakers, rekindling hopes that Alcoa can once again thrive.

When Tesla Motors launched its Model S, it arguably changed the face of the auto industry forever. The company proved once and for all that it could build an all electric car that consumers wanted to buy. Detroit was put on notice that it needed to really shift gears to catch up or it could be innovated into extinction. However, while Tesla is looking to speed past American icons such as Ford, its success could save another American icon: Alcoa.

There's no doubt about it: The aluminum giant and Dow Jones Industrials member has seen better days. Its stock is down some 80% since the dawn of the financial crisis. Many airline manufacturers that were among its biggest customers have switched from aluminum to composite materials for the body of their next generation planes. However, while composites might be next generation for the aviation industry, aluminum represents the next generation for the automobile industry.

In fact, the driving force behind Tesla's Model S might not be the electricity coursing through the car but instead the lightweight aluminum that makes it all possible. The aluminum-intensive design saves Tesla precious pounds, which enables the car to deliver performance never dreamed possible from an all electric car. At 4,650 pounds, Tesla needed the weight savings from aluminum, in this case roughly 33% over steel, or more than 200 pounds, to offset its hefty battery pack. Its success with aluminum is now rekindling hopes that Alcoa can once again thrive.