Tesla nabs 520 pre-orders for the Model S
Posted Today, 12:42 PM by Nelson Ireson
There are still many obstacles to full scale production in 2011, howeverust about a week ago, Tesla unveiled its near-production Model S sedan at Elon Musk's SpaceX headquarters, and opened the reservation books for the car - even though they haven't broken ground on the factory that will build it. Undeterred, 520 people have made the $5,000 deposit for the car already, raising $2.6 million for the car's development.
Even Tesla was surprised by the number of people willing to pony up the cash. "Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections," said Tesla CEO, Chairman and Product Architect Elon Musk. "Enthusiasm surrounding the Model S is proof that there's pent-up demand for more affordable, fuel-efficient vehicles - including those made in America."
Stripping that statement of the marketing-speak, it still shows that Tesla wasn't expecting this much interest this early - providing hope for the car's eventual production, assuming the high hurdles in its way can be cleared. In order to build the Model S, Tesla will have to first construct a new plant.
To get there, the company has applied for a $350 million loan - peanuts compared to the major carmakers, but still a tough sell, especially for a completely unproven product - from the U.S. government's Advanced Technology Vehicle Manufacturing Program.
The Model S's statistics are likely what drove the early interest - at 5.5 seconds to 60mph, 300mi range and an incredible price of $57,500 before $7,500 in tax credits, the car offers inexplicable value, especially considering it will be built in California. And that's before you get to the car's technological feature list.
For more on the Model S and its production likelihood, check out our story on the car's unveiling here.
Even Tesla was surprised by the number of people willing to pony up the cash. "Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections," said Tesla CEO, Chairman and Product Architect Elon Musk. "Enthusiasm surrounding the Model S is proof that there's pent-up demand for more affordable, fuel-efficient vehicles - including those made in America."
Stripping that statement of the marketing-speak, it still shows that Tesla wasn't expecting this much interest this early - providing hope for the car's eventual production, assuming the high hurdles in its way can be cleared. In order to build the Model S, Tesla will have to first construct a new plant.
To get there, the company has applied for a $350 million loan - peanuts compared to the major carmakers, but still a tough sell, especially for a completely unproven product - from the U.S. government's Advanced Technology Vehicle Manufacturing Program.
The Model S's statistics are likely what drove the early interest - at 5.5 seconds to 60mph, 300mi range and an incredible price of $57,500 before $7,500 in tax credits, the car offers inexplicable value, especially considering it will be built in California. And that's before you get to the car's technological feature list.
For more on the Model S and its production likelihood, check out our story on the car's unveiling here.
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