Tesla Takes 520 Reservations for the Model S, Exceeding Expectations

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2012 Tesla Model S prototype

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Within one week of unveiling the strikingly designed 4-door pure electric Model S sedan, Tesla Motors has announced they have already taken 520 reservations.  The vehicle currently exists only in prototype form and will be produced in late 2011 if the company can get $350 million in goverment loans to build the production plant.

The sleek and sporty car will sell for $57,400, do 0 to 60 in 5.6 seconds, and travel up to 160 miles on a charge.  Longer range battery packs of 230 and 300 mile will be available as options.  Charging can be at 110, 220, or 440 V and can be performed in as little as 45 minutes.

"Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections," said 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."

Tesla will be displaying the vehicle in Washington DC today and it will be shown in NY, Chicago, Miami, and Seattle later in the ear.

For a $40,000 reservation, would-be buyers will get to purchase a signature edition Model S of which only 2000 will be made. Tesla also plans to partner with other automakers to provide battery packs, and intends to produce more affordable vehicles in the future tough they note that the Model S is functionally equivalent to a $35,000 car after a $7500 tax credit and if gas were $4.00 per gallon.

Full Press Release:

April 1, 2009

WASHINGTON, DC - (BUSINESS WIRE) - 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 DC and Munich this year.

"Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections," said 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 will likely 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 East Coast premier of the Model S is tonight at the National Building Museum in Washington, DC. The drivable prototype also will be shown in New York, Chicago, Miami and Seattle this spring and summer.

The Only Car You Need

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

The Model S does 0-60 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 you can 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, and the car is a better value than far cheaper cars.