520 Tesla S Sedans Reserved In One Week

Tesla says that 520 S Model all electric sedans have been reserved by customers in first week since it was announced. Each customer must pay a $5,000 reservation fee, which is refundable if they choose not to buy the car. The base price for the Model S, which will be available starting in 2010, is $49,900 after a federal tax credit of $7,500. A limited editon of the Model S is available for a $40,000 reservation fee.

The Model S is the second car unveiled by Tesla after the sportier Roadster, and it’s half the price. But it’s no slouch on performance. The car will do 0-60 in 5.6 seconds (the Roadster is 3.9 seconds) and has an electronically limited top speed of 130 mph. The car should go up to 300 miles between charges.

Tesla says they delivered 104 Roadsters in March and about 320 all time. The company has raised $186 million in capital to date, and has applied for $350 million in federal loans.


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