Tesla to Build All-Electric Luxury Sedan in California in 2010

Continuing its investments, Tesla Motors announced that it is planning to build a $250 million facility to manufacture a zero-emission luxury sedan in the heart of Silicon Valley. Named Model S, the five-passenger sedan will be powered by a lithium-ion battery pack and according, it is expected to have a base price of $60,000 and get around 240 miles or 386 km per charge. The first sedans will likely roll off the Tesla’s new assembly line in late 2010. Tesla’s President and CEO Ze'ev Drori said that construction on the 89-acre site would begin in the summer of 2009 and when fully operational, the facility will employ approximately 1,000 workers. -Continued

The company also said that it will relocate its corporate headquarters and research and development efforts to a consolidated campus in San Jose, California. Tesla, which currently produces the all-electric, two-seater Lotus Elise-based Roadster, said that it chose San Jose in part because the region already enjoys a high concentration of highly skilled engineers and support infrastructure. The new factory will be located 20 miles from the current headquarters in San Carlos.

The new plant won’t affect the Roadster as Tesla has no plans of moving production from the Group Lotus PLC factory in Hethel, U.K. Last week the company said it was ramping up production as about 1,200 people have already put down deposits for the Roadster. So far, Tesla has delivered only about 30 Roadsters.

F1 Champion Damon Hill to Drive Tesla Roadster in Green Race

Former Formula One World Champion, Damon Hill will sit behind the wheel of a Tesla Roadster in the GreenFleet Capital Arrive ‘N’ Drive 08 event, which will start on London’s Horse Guards Parade on 31 July, 2008. The eco-friendly challenge aims to promote the latest innovations to reduce emissions and improve air quality in London. The Tesla Roadster will be among the 20 public and private sector drivers taking part in the 33 mile-course to demonstrate the use of electric power as a viable alternative to conventional fuel sources. -Continued

Talking about the event, Darryl Siry, senior vice president of sales, marketing and service, Tesla Motors said: “It is a huge privilege for Damon Hill to present the Tesla Roadster to car enthusiasts on the capital’s streets. This will be a perfect opportunity for people to witness high performance and fun motoring without the need to compromise the environment.”

Tesla to Build Mass Market Electric Sedan in California

Tesla’s forthcoming battery-powered 4-door sedan model that is scheduled to enter the market in 2010 will be manufactured at a facility in the state of California (just like the Roadster) and not in Albuquerque, New Mexico as it was previously announced. Tesla Motors and Californian Governor Schwarzenegger made the announcement at a joint press conference at the company’s San Carlos headquarters.

“Today’s announcement is incredible news for California’s economy and its environment,” said Governor Schwarzenegger. “If California was a baseball team this would be like winning the first round draft pick and recruiting a player who is a perfect fit on our roster because Tesla Motors and its all-electric cars belong in California,” the Governor added. -Continued

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.”