Tesla recently released its Model S featuring,
- Seats 7 people (5 adults + 2 child)
- Increased cargo space than any other models in Sedan family
- 300 miles per charge
- With a 45 minute quick charge
- Offers 100 percent torque
Out of the $465 million, $365 million dollars will be used for its assembling production engineering. The rest $100 million will be used for a powertrain manufacturing plant. This facility will supply other automakers all - electric powertrain solutions and will employ about 650 people.
Roadsters also designed by Tesla are the first battery powered vehicle to travel more than 200 miles per charge. Now the release of Model S is another boom to the auto industry.
The Advanced Technology Vehicle Manufacturing Program is devoted to encourage automakers that produce more fuel efficient vehicles. These loans are a part of ATVM (Advanced Technology Manufacturing Program) and will be used with the strict intention with which the congress has intended.
Tesla's base price would be $49,900 with an additional $7,500 US federal tax credit. Its planned to release in 2011, and the reservations are now open. Tesla CEO and Product Architect Mr. Elon Musk, commented that " We are honored that the US government selected Tesla to be among the first companies to participate in this progressive program."