Tesla Want's Your Next Car To Be Electric

Motley Fool repeats the old argument about buyers shying away from electric cars because of range issues.

Published: 26-Jan-2012

Ready or not, here it comes: Silicon Valley's upstart automaker Tesla Motors (TSLA) confirmed on Tuesday that its groundbreaking Model S, a luxury-sports sedan powered entirely by electricity, was on track to enter production by this summer.

It's easy to dismiss the idea of an upstart competing with the likes of Toyota (TM) and Ford (F), but the Model S is no joke: Tesla already has more than 8,000 orders for the car, and each of those orders came with a $5,000 deposit.

When you consider that this is a car that starts at nearly $50,000 (and that's after a big tax break), and can run up to almost double that fully loaded, that's an impressive total. Add in the fact that almost nobody has actually test-driven a Model S, and it's clear that there's some excitement brewing around this sleek new machine.

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RELATED NEWS ITEMS

Tesla Model S will come in three price ranges based on size of battery pack.

$57,400 base model will have range of up to 160 miles compared to 300 miles range of premium price version.

Tesla Model S slated for sales launch in mid-2012.

The California-based firm has already received orders for 3,700 Model S cars.

To date, Tesla has sold more than 1,500 Roadsters.

The 1,500 electric Roadsters have collectively saved 500,000 gallons of fuel and over 5.3 million pounds of carbon dioxide emissions.

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