Tesla to Make Low-Price EV

Tesla Model S

The already witnessed success of the Roadster and the foreseeable success of the upcoming Model S has made American manufacturer Tesla want more. The EV maker intends in the following years, perhaps even until 2016, to move from the niche segment it occupies now to a mainstream one.

The main means-to-an-end for Tesla will be the $465 million in low-interest loans from the US Department of Energy. Some of the money are to be used, Autonews reports, to move the manufacturer's focus from exotic electric sports cars to a, hold on, low-price, family vehicle.

What would that mean? After the debut of production of the Model S, set for 2011, Tesla will get ready for the introduction, some five years later, of a mass-produced electric vehicle priced at under... $30,000.

When the loan was approved by US DoE, Tesla said they would use it for the construction of a powertrain plant in the San Francisco Bay Area and an assembly plant in Southern California to produce the Model S.

The Model S will powered by a choice of three battery packs, with ranges extending to 160 (257 km), 230 (370) or 300 (482 km) miles per charge. The batteries can be recharged in some 45 minutes while using a 480V household outlet.

According to Rachel Konrad, Tesla spokeswoman, the manufacturer plans on providing customers with the possibility of swapping the above-mentioned batteries as needed. Tesla Model S will be sold for $57,400. Since it is an EV, the S will take advantage of the $7,500 federal tax credit, so the effective price of the car will start at $49,900.