Luxury electric car demand leaves automaker optimistic

Jan. 1, 2020
Tesla Motors has taken 520 reservations for the Model S, an all-electric family sedan that carries up to seven people and travels up to 300 miles per charge.

Tesla Motors has taken 520 reservations for the Model S, an all-electric family sedan that carries up to seven people and travels up to 300 miles per charge.

Tesla launched the car March 26, and orders immediately began streaming in online and at showrooms in California. Tesla plans to open stores in Chicago, London, New York, Miami, Seattle, Washington, D.C. and Munich this year.

“Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections,” says Tesla CEO, Chairman and Product Architect Elon Musk. “Enthusiasm surrounding the Model S is proof that there’s pent-up demand for more affordable, fuel-efficient vehicles – including those made in America.”

The Model S is expected to be the world’s first mass-produced, highway-capable electric vehicle when production begins in late 2011. The company has applied for a $350 million loan from the Department of Energy’s Advanced Technology Vehicle Manufacturing Program, which would be used to build the Model S assembly plant in California.

The Model S can be recharged from any 120 volt, 208 volt or 240 volt outlet or quick-charged from an external direct current supply in only 45 minutes. Users can recharge the car during rest stops or meal breaks, enabling the Model S to go from L.A. to New York in approximately the same time as a gasoline car.

The Model S goes 0 to 60 mph in 5.6 seconds, and will have an electronically limited top speed of 130 mph. A 17-inch touchscreen with in-car 3G connectivity means drivers may listen to Pandora Radio or consult Google Maps, or check the car’s state of charge remotely on your iPhone.

The anticipated base price of the Model S is $49,900 after a federal tax credit of $7,500. The $5,000 reservation fee is refundable, the company adds.

Three battery pack choices will offer a range of 160, 230 or 300 miles per charge. The company has not released options pricing.

Tesla also is taking reservations for the Model S Signature Edition with a $40,000 reservation fee. Tesla will produce only 2,000 Signature Edition cars, which will be the first built and have unique interior and exterior features. Signature Edition cars will be evenly split between U.S. and European customers.

Tesla is the only production automaker selling highway-capable EVs in North America or Europe today. With 0 to 60 mph in 3.9 seconds, the Roadster outperforms almost all sports cars in its class, yet is more than twice as energy efficient as a Toyota Prius and delivers 244 miles per charge, the company adds.

Tesla delivered 104 Roadsters to customers in March, marking the first triple-digit delivery month in the company’s history. Tesla delivered more than 170 cars in the first quarter -- more than the total delivered in 2008.

Tesla has delivered about 320 Roadsters so far. The base price of the Roadster is $101,500 after a $7,500 federal tax credit.

The Roadster, which has a 0 to 60 mph acceleration of 3.9 seconds, is the only highway-capable production EV for sale in North America and Europe. Tesla expects to begin producing the Model S sedan in late 2011.

For more information, visit www.teslamotors.com.

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