Tesla Prepares to Deliver First Model S Electrics

Tesla Motors Inc. says it will turn over the first Model S electric sedans to a small group of customers on June 22 during a special ceremony at its assembly plant in Fremont, Calif.

The company's Web site says the first 1,000 vehicles will be "Signature" models, a sold-out series whose cars start at $87,900. A performance version is priced at $97,900. All Tesla cars are eligible for a $7,500 federal tax credit.

Both Signature models are equipped with Tesla's most powerful, 85-kWh lithium-ion battery. The performance version can scoot from zero to 60 mph in 4.4 seconds 1.2 seconds quicker than the standard Signature model.

Tesla says it will begin rolling out the base Model S and a performance iteration of that model this autumn. The base car will be offered with a choice of three battery power levels: a 40-kWh vehicle for $57,400, a 60-kWh car for $67,400 and a 85-kWh unit at $77,400. The three batteries fit in the same-size enclosure and provide ranges of about 160 miles, 230 miles and 300 miles, respectively.

Tesla announced three weeks ago it would begin delivering the Model S in June, one month earlier than previously announced. The company also plans to offer test drives at promotional events in several cities in the U.S. and Canada beginning in July.

Tesla reiterates that it expects to sell about 5,000 Model S cars this year. The company, which says it has more than 10,000 orders for the sedan so far, plans to add the Model X crossover vehicle next year.