Tesla has recently applied for a $350 million loan from the US Dept. of Energy (DOE) for the construction of a plant for the Model S. DOE consequently informed Tesla that the loan had been approved and the fund released within 4-5 months.
Such a quick loan approval time has been attributed by the carmaker to President Obama's move to prioritize Advance Technology Vehicles Manufacturing loan program.
In this case, the intended 2011 introduction of the Model S is back on track. The Model S will be showcased at the design studio of Tesla and it will be a street-drivable model. Tesla owners will get a $10,000 discount when they buy the Model-S when it arrives and be available for retail in 18 months.
Furthermore, Tesla's battery replacement program has also been revealed. With $12,000 (€10,000) cash out, customers can avail of the automatic replacement battery pack after 7 years.
The typical lifespan of a standard battery pack is seven years or 100,000 miles. For those who want to replace their batteries earlier than seven years they have to pay extra and for those who will replace their at a later time will receive appropriate refunds.
According to Tesla, the current replacement cost of the battery pack is $36,000.
Since the Tesla Model S has no internal combustion engine or transmission tunnel, it offers an interior that could carry more cargo than any other sedan in its class. It even offers a second trunk under its hood, where combustion engines in conventional models typically sit.
In fact, the Tesla Model S could comfortably seat five adults as well as two children in optional rear-facing child seats. The Model S is powered by Tesla's advanced electric powertrain, which torques as soon as needed, allowing the electric sedan to smoothly accelerate from zero to 97 km/h in just 4.4 seconds.
Providing the juice for the Tesla Model S is a battery pack – the most energy dense in the auto industry. Along with an aluminum body developed for superb handling, efficiency and safety, as well as best-in-class aerodynamics, this battery pack allows the battery to travel up to 480 kilometers before needing to recharge.
Furthermore, the interior of the Tesla Model S comes with a 17-inch in-dash touchscreen with Internet capabilities, thereby enabling radio streaming, Web browsing and navigation.