Tesla is still nearly a year away from the official launch of the Model S.
Tesla will offer its first mass-market model for a base price of $57,400 – with a super high-range lithium-ion battery adding another $20,000 to the price tag for the Model S sedan.
The new 7-seater is expected to reach production late in 2012, Tesla launching production at an old California assembly plant until recently operated as part of a joint venture between General Motors and Toyota. The maker has received hundreds of millions in federal loans to push the Model S project forward, while Toyota has also come aboard as a minority investor in Tesla.
The prices quoted by Tesla reflect the figures after including a $7,500 federal tax credit, so the MSRP for the base Model S, with a 160-mile, 40 kilowatt-hour battery will actually be $64,900. A top-line Performance Model will carry a sticker of $94,900 – or $87,400 after accounting for the federal tax credit.
Until now, Tesla has produced only a few thousand high-performance Roadster two-seaters. The addition of the Model S is its first step into mass marketing. CEO and founder Elon Musk has hinted that an even less expensive offering is in the works once Model S gets established. He has been counting on significant improvements in battery technology – along with sharp drops in lithium-ion pricing – to enhance the technology’s appeal.
Indeed, there have been a number of improvements just since last January, when senior Tesla officials discussed the project with TheDetroitBureau.com. At the time, the projected energy consumption of the Model S would have required a minimum 100 kilowatt-hour battery – perhaps one significantly larger to achieve the 300 mile range offered by the most expensive models. Instead, Tesla now plans to use just an 85 kWh battery.
Of course, final mileage figures will have to be validated by the EPA, which dictates what a manufacturer can put on its Munroney window sticker. To date, vehicles like the Nissan Leaf, Fisker Karma and Chevrolet Volt have routinely been found to deliver significantly lower range – and equivalent fuel economy – than their makers originally anticipated. It remains to be seen if Fisker will hit the target with its various Model S versions.
The base car is expected to deliver 160 miles – well above most of the competition – with an 40 kWh pack, with a 230-mile version also on the Model S option list.
The 300-mile Model S will deliver an estimated 125 mph top speed, with the Performance version pushing that to 130 mph. No 0 to 60 times were listed by Tesla on a car still nearly a year from production. But the little Roadster was able to roughly match the off-the-line acceleration of a Porsche 911 Turbo.
Along with the federal credit, a number of states are offering additional cash-back incentives that run as much as $6,000. That could help cut the sting of checking off the various options that will be available on the Tesla Model S.
The maker will outfit the new sedan with 19-inch tires and include a huge 17-inch touchscreen display – larger than even the new monitor in the 2013 Lexus GS. But Napa leather will cost $1,500, as will an optional air suspension. The tech package is set at $3,750, while the $1,500 aero kit, including wind-slick 19-inch wheels, will have the practical advantage of boosting range by 20 miles.
Normally, makers wait until just before production to reveal pricing, so whether Tesla can hold its numbers for a year remains to be seen. Battery-car rival Fisker Motors recently announced the latest increase in its own price on the Karma plug-in, which will now set a buyer back roughly $100,000, or nearly 20% more than original plans.