Tesla Motors said Tuesday that the prices for the Tesla Model S electric sedan will start at $57,400 before the tax credit for the base model which will have a driving range of 160 miles.
Tesla plans to produce 5,000 Model S electric cars in 2012 with U.S. deliveries beginning in mid-year. The Palo Alto-based electric car maker hopes to expand production capacity to 20,000 cars by 2013.
The first 1,000 Tesla Model S sedans will be the North American Model S Signature Series, equipped with a 300-mile range battery. It will be a limited-edition series and will cost $77,400 before the federal tax credit of $7,500 is applied.
The base model will have a driving range of 160 miles and will cost $57,400, while a 230-mile version will cost $67,400 before the federal tax credit of $7,500.
The Tesla Model S will be able to go from zero to 60 mph in about 5.5 seconds and will have a top speed of 125 miles per hour.
Tesla expects to produce only 5,000 of the cars in 2012 and hopes to expand production capacity to 20,000 cars by 2013. Test units are already on the road, having started in December.