Tesla announces development of $60k sports sedan, $30k cars within four years

Tesla Motors, the makers of the high-end electric sports car known simply as the Tesla Roadster, have been raising capital to produce a moderately priced plug-in electric sports sedan, known as the Model S. An announcement was recently made that indicates the car will soon become a reality. The innovative vehicle will be roughly comparable in quality and features to the BMW 5 series. The original estimated price for the Model S was $100k, and it appears the actual price will be lower. Tesla's business plan has been to bring out its first vehicles at the top of the market, and then move toward more inexpensive vehicles as it develops a solid corporate footing. Factories will be located in the US, most likely Northern California or New Mexico. The press release, plus a little more information, can be found at AutoblogGreen. Not much more is available as yet (nothing on the Tesla website), but it certainly bears watching.

There is much to look forward to, it seems. In a separate announcement, Tesla's Product Architect Elon Musk said the company's focus is to be able to market a $30,000 plug-in electric vehicle within four years. Again, no information on specifics is available, but such a vehicle, when available, could have a "substantial impact on the automotive world." (Engadget)

Thanks to Treehugger, AutoblogGreen and Engadget