Amid the auto industry’s worst decline in decades, Tesla Motors Inc. said Thursday that it would build its all-electric sedan in Southern California, a possible boon to the sagging local economy.
Elon Musk, chairman and chief executive of the San Carlos, Calif., start-up, made the announcement as he unveiled the prototype of its new vehicle. The $57,400 Model S gets up to 160 miles on a single charge. Another version of the sleek four-door will get up to 300 miles.
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If Tesla builds the car factory, it would be the first in Southern California since General Motors Corp. closed its Van Nuys Camaro and Firebird plant in 1992. Currently, the only car factory in the Golden State is a joint venture run by GM and Toyota in Fremont, where the Pontiac Vibe and Toyota Matrix are built.
If all goes according to plan, the Model S will reach customers in the final months of 2011. The starting price is for a version with a battery capable of a 160-mile range and a 45-minute recharge time. It will also come with the option of a 230-mile battery or a 300-mile battery. Tesla has not yet released pricing on those.
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Tesla is competing with several other companies to deliver the first mass-produced electric or plug-in electric sedan to consumers. GM plans to begin selling its plug-in hybrid Volt in late 2010, and Fisker Automotive Inc. of Irvine said it would hand over the keys to its $87,900 Karma sedan, to be built in Finland, early next year.
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