Tesla Model S Pricing Announced

Only one week separates the world from meeting what car manufacturer Tesla calls "the world’s first mass-produced, highway-capable EV," Tesla Model S. The prototype of the Model S will be unveiled on March 26, at the company's design center in California, in anticipation of the series version which will roll off the assembly line towards the end of 2011.

What really matters is that the price for the electric sports car will not be prohibitive and will be, as we reported, in the $50,000-$60,000 range. To be more exact, Tesla Model S will be sold at an anticipated $57,400. Since it is an EV, the S will take advantage from the $7,500 federal tax credit, so the effective price of the car will start at $49,900. That is less than half the price of the $128,000 Roadster.

"Because of tax incentives and relatively inexpensive maintenance and refueling, the lifetime ownership cost will be closer to cars with far lower sticker prices," Musk said in a release.

The manufacturer has high hopes for the new vehicle. Despite the high price tag of the Roadster model, Tesla delivered today its 250th unit and now builds some 20 units a week. Elon Musk, Tesla CEO, is hoping more, as he said the company plans to increase output to 30 cars a week by summer time. A reason for this optimistic thinking is that the Roadster is sold out until the end of October.

Expansion plans for the company do not stop with the release of its second model, nor with plans to sell in Canada starting late autumn. Tesla plans to open stores in London and Munich. Updated on 27.03 here.