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Tesla Builds Its First 50 Model S Hybrids
Tesla Motors Inc. says it has assembled 50 of its new Model S electric sedans and tells Bloomberg News it expects to reach 100 units by mid-August.
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Tesla Motors Inc. says it has assembled 50 of its new Model S electric sedans and tells Bloomberg News it expects to reach 100 units by mid-August.
The car officially went on sale in June. Tesla says it has produced 29 cars for customers so far, with the other units destined for dealerships as demonstrators.
The company expects to build 500 Model S EVs in the third quarter and 5,000 by the end of this year. Tesla says it has more than 12,000 orders for the car, which starts at $49,900 but ranges as high as $97,900.
A strong launch for the Model S is critical for Tesla, whose first-quarter loss nearly doubled to $90 million on the cost of developing and preparing to build the car. The company predicts its revenue will surge from $60 million in the first half of 2012 to as much as $540 million in the second half as Model S sales accelerate.
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