Orders for Tesla Motors’ electric Model S sedan have out-stripped internal expectations, the US company has said.
Go deeper with GlobalData
The car was unveiled at the end of March and described as a family sedan that carries five people, travels up to 300 miles (500km) per charge and will sell at just under US$50,000 – with production planned to begin in 2011. The firm said it ‘will likely be world’s first mass-produced, highway-capable EV’.
Tesla said that it has received 520 orders for the car since it was unveiled last week.
“Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections,” Tesla chief executive Elon Musk told news agency AFP.
“Enthusiasm surrounding the Model S is proof that there’s pent-up demand for more affordable, fuel-efficient vehicles — including those made in America.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTesla says the Model S, which carries its charger onboard, can be recharged from any 120V, 240V or 480V outlet, with the latter taking only 45 minutes. By recharging their car while they stop for a meal, drivers can go from LA to New York in approximately the same time as a petrol car, Tesla claimed.
Tesla expects to start Model S production in late 2011. The company believes it is close to receiving $350m in federal loans to build the assembly plant in California from the Dept of Energy’s Advanced Technology Vehicle Manufacturing Programme.
The anticipated base price of the Model S is US$49,900 after a federal tax credit of US$7,500. The company has not released options pricing. Three battery pack choices will offer a range of 160, 230 or 300 miles per charge.
