Tesla Motors Inc. on Thursday lifted the cover off a prototype of its four-door Model S — which the company hopes to make the world’s first mass-produced, highway-capable electric vehicle.
“Our objective with the Model S was to create one of the most functional, intuitive and beautiful vehicles on the road,†said CEO Elon Musk, in a prepared statement.
The event for Tesla Roadster customers, select VIPs and media was held at the company’s Hawthorne design studio in Southern California.
The company is waiting to hear if its $350 million loan has been approved for the Department of Energy’s Advanced Technology Vehicles Manufacturing Loan Program. Tesla wants to use the loan to build a manufacturing facility for the Model S.
The vehicle’s base price is expected to be $57,400, said Tesla spokeswoman Rachel Conrad. A federal tax credit of $7,500 would amke the effective price $49,900.
Existing Tesla Roadster owners are expected to receive a $10,000 discount off the price of the Model S Signature series and automatically be first in line for the sedan, according to Musk. Conrad said the first Model S units could start rolling off the assembly line in 2011.