Tesla Model S: First Official Teaser Photo, $350 Million DoE Loan

tesla model s official photo

Photo: Tesla Motors
Model S Electric Car to be Unveiled on March 26th
Here is the first official teaser photo of Tesla's second electric car, the Model S sedan. It's not much, but better than nothing. The Model S will be the first car by Tesla to have a look entirely designed by them (the electric Roadster was part Lotus). The target price is about half of what the Roadster costs, and production should start in late 2011 (if all goes well).Department of Energy Funding
Tesla also reports in a newsletter:

Regarding funding, I am excited to report that the Department of Energy informed Tesla last week that they expect to disburse funds from our $350M Model S loan application within four to five months. The Obama administration has thankfully made it a top priority to move quickly on the Advanced Technology Vehicles Manufacturing loan program, as this will both generate high quality jobs in the near term and lay the groundwork for a better environment in the future.

This will keep us on track for production to start in 2011. As a gesture of gratitude for their early support, Roadster owners will receive a $10,000 discount off the price of the Model S Signature series and automatically be first in line for the sedan.

The company also expects to be profitable by mid-2009, in part thanks to cost reductions.

Via Tesla Motors

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