Tesla reports 1000 pre-orders for the Model S

On March 26th, Tesla officially unveiled its drivable prototype Model S sedan--- Tesla's first all-original car, at Elon Musk's SpaceX headquarters, and opened the reservation books for the car - even though they haven't broken ground on the factory that will build it. Undeterred, over 1,000 people have made the $5,000 deposit for the car already, raising another $5 million for the car's development.

Even Tesla was surprised by the number of people willing to pony up the cash early on, when 520 people had made their reservations in the first week. "Frankly the number of cars reserved in the first week has exceeded our optimistic internal projections," said Tesla CEO, Chairman and Product Architect Elon Musk. "Enthusiasm surrounding the Model S is proof that there's pent-up demand for more affordable, fuel-efficient vehicles - including those made in America."

As interest in the Model S continues to show strength, Tesla has shifted to extolling the virtues of the electric sedan. “The Model S is a better value than much cheaper conventional cars,” said Musk. “Despite the enormous environmental benefits, lower total cost of ownership will soon become the primary motivation for consumers to evolve from gas guzzlers to EVs.” The Model S's lower total cost of ownership relies on higher priced - above $5 per gallon - gasoline. At current rates, the calculation isn't so favorable. But it at least seems reasonable to assume fuel prices will rise again once the economy rights itself.

To get from here to production, however, the company has applied for a $350 million loan - peanuts compared to the major carmakers, but still a tough sell, especially for a completely unproven product - from the U.S. government's Advanced Technology Vehicle Manufacturing Program.

Tesla added further excitement to its new Model S by announcing a Signature Edition, which will be built in a run of 2,000 cars that will be split evenly between U.S. and European customers. The Tesla Model S Signature Edition will be the first built cars and will come with unique interior and exterior features. To reserve one Tesla will need a $40,000 deposit for this special model.

The Model S's statistics are likely what drove the early interest - at 5.5 seconds to 60mph, 300mi range and an incredible price of $57,500 before $7,500 in tax credits, the car offers inexplicable value, especially considering it will be built in California. And that's before you get to the car's technological feature list.


More information unveiled on March 26th:
A quick run-down of the car's stats reveals the Model S will carry on the Roadster's mantle of green performance, while expanding considerably on its utility: a 300mi (480km) range is complemented by an expected 0-60mph (96km/h) time of 5.5-6.0 seconds. There's even work being done on an optional 600mi (960km) extended-range battery pack. Despite the range of the 300mi pack, Tesla is claiming a 45 minute quick-charge time. The battery pack itself will be warrantied for 7-10 years, while the car will be warrantied separately for a period of 3-4 years.

The official photos of the car reveal an exterior more or less as expected, though the flavors of Jaguar, Maserati and Karma are more upscale than its price would suggest. Tesla's hiring of Mazda's former chief designer for the project probably explains that, however. The unfinished interior shown in leaked photos threw the 'drivable' aspect of the prototype into doubt, but the official shots reveal a car that is in fact ready to run - though probably not ready for volume production.

A huge central screen area will house a haptic (read: touch feedback) touchscreen interface, while a second LCD serves as the instrument panel. The presence of such a huge display hints at the highly reconfigurable nature of the system, perhaps even allowing customized gauge and feature layouts. Again, this feature seems to be well beyond the $57,400 price tag of the Model S. A unique interior configuration allows seating for seven with the installation of a pair of child-sized jumper seats in the rear of the car.

The car will also have a few high-tech and high-performance toys that further build the mystery of just how so many features fit into the price tag, including full-time 3G connectivity with Internet, HD and satellite radio, a six-piston front and four-piston rear Brembo brake system, 21in wheels and LED/neon head and tail lights.