Tesla to Unveil Model-S 4 Door Electric Sedan in March
Tesla Motors, the maker of high-performance electric vehicles, announced that they will be unveiling their Model-S sedan on March 26 at Space Exploration Technologies in Hawthorne, California.
The Model-S features a rounded front nose, a front fender plate with an affixed Tesla emblem and a noticeably shorter hoodline. The electric vehicle was designed by former Mazda designer Franz von Holzhausen.
“Our objective with the Model-S was to create one of the most functional, intuitive and beautiful vehicles on the road,” said Elon Musk, Tesla’s chief executive and chairman.
The CEO also announced that the company is optimistic that it will receive a substantial loan to design their electric cars from the Energy Department.
“Regarding funding, I am excited to report that the Department of Energy informed Tesla last week that they may disburse funds from our $350M Model-S loan application within four to five months,” he said. “The Obama administration has thankfully made it a top priority to move quickly on the Advanced Technology Vehicles Manufacturing loan program, as this will both generate high quality jobs in the near term and lay the groundwork for a better environment in the future.”
Tesla has set a target production date of 2011 for the Model-S, but the timeline may hinge on approval of the funding request.
The Model-S is expected to sell for about $60,000, although Musk said that early buyers will get a $10,000 discount “as a gesture of gratitude.”
The company was forced to downsize due to the rough economy by laying off workers and even shutting down its Michigan technical center.
The Model-S will have a range of 160 miles on a full charge.
The automaker currently sells the $109,000 Tesla Roadster, a two-seat electric vehicle.
“While we have had some cancellations due to buyers experiencing personal financial difficulties, new orders continue to flow in every week from the United States and Europe,” Musk said. “We have now produced over 200 Roadsters for customers and there are more than 1,000 customers still awaiting delivery.”