The sedan—which will cost about half as much as the Roadster—is intended to be a more practical and affordable alternative to their $109,000 sports car. Tesla anticipates a base price of about $49,900 after taking into account the electric vehicle federal tax credit of $7,500. If you include the cost of buying gas (at $4 per gallon of course) the price drops down to about $35,000.
The Model S is expected to start production in late 2011, but this is entirely dependent on Tesla receiving a $450 million government loan from the Energy Department. Tesla’s CEO Elon Musk said they are “highly confident” that the company will be selected to receive a loan this year.
More like a normal car than many electric vehicles we’ve seen, the Model S has room for up to seven people and a range of 300 miles per charge. It will carry an onboard charger, which allows it to recharge from any 120V, 240V, or 480V outlet (this last one would only take 45 minutes). It appears the sedan might be more than just a “family sedan”, since extra space under the front hood plus a normal amount of cargo space gives it the capacity to “accommodate a 50-inch television, mountain bike *and* surfboard simultaneously.”
Tesla is currently taking reservations online and in showrooms in California. The company plans to open a store in Chicago this spring and plans to open stores in London, New York, Miami, Seattle, Washington DC and Munich later this year.