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July 1, 2008 – Vol.13 No.15 Tesla Motors’ Model S, All-Electric Sports Sedan to be Built in California. The company’s second product, an 4-door, 5-passenger $60,000 zero-emission sedan will be able travel 225 miles on a single charge. Production is targeted to begin in late 2010. The exact location of the manufacturing facility within California will be decided soon. The company’s first product, the Tesla Roadster went into production in the US on March 17, 2008. Over 1000 US customers have reserved a Tesla Roadster. Ze’ev Drori, President and CEO of Tesla Motors, remarked, “Tesla has achieved an extraordinary accomplishment. We are the only automobile company today delivering full performance battery-electric vehicles to our customers. Make no mistake - we are not a niche player with a car only for the rich and famous. As our agreement with the state so clearly demonstrates, we are building a high volume ZERO EMISSION VEHICLE, manufactured in California for mid-range family use. And we aren’t going to stop there. We will continue on and build even more affordable cars. You are witnessing the debut of a new car company, a company unlike all others, a company with a disruptive technology, a company dedicated for the exclusive production of Zero Emission Vehicles.”
Tesla decided on California as the state for production after the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) approved a new program that exempts new Zero Emission Vehicle manufacturers from paying sales and use tax on the purchase of manufacturing equipment and will encourage ZEV manufacturing in California. Tesla will also be eligible for at least $1 million in Employment Training Panel Workforce Development Funds to train employees. Tesla Motors, of San Carlos, California, develops and manufactures electric vehicles that conform to all US safety, environmental and durability standards. The Tesla Roadster is the only highway capable production electric car of any kind for sale in the United States. (6/30/08)
Links: Tesla Motors
Related: --- Tesla Motors Launches European Sales.
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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