Tesla’s Model S electric car will be available earlier than scheduled. It will go on sale this June. While this is good news for the company, it was dealt with a painful blow when it posted an $89.9 million loss in the first quarter, nearly double the $48.9 million loss reported for the same period in 2011.
Nevertheless, Automotive News reveals that Tesla expects its total revenue for this year to be at least $560 million. It had initially forecasted a revenue of $550 million. However, it raised its expectations because of the early launch of the Model S. CEO Elon Musk is hopeful that Tesla will make profits in 2013, anticipating a 25% gross margin. Tesla is hoping that the Model S will arrive sooner.
The output for the Tesla Roadster was cut last year and according to The Detroit News, just about 200 Tesla Roadsters remain in Asian and European showrooms. Furthermore, Tesla predicts that it soon spend the entire $465 million loan it got from the Department of Energy.
Even with Tesla’s shortage of vehicles for test-drives, it said that there’s plenty of interest in the Model S. There has been a minimum of 10,000 pre-order requests for the upcoming EV, which will be produced in Northern California at Tesla’s assembly plant. The Tesla Roadster had a very expensive six-tag price that almost got to 7,000.000.
Meanwhile, the Model S is much more affordable with a base price of $49,000 following tax credits. It will be available with three battery options that range from 160 to 300 miles per charge. The Model S would be capable of recharging its battery to 80% capacity when plugged into a fast charger.
Its other standout features include its rear-facing, third-row seats (expanding passenger capacity to seven) and its 17-inch, touchscreen infotainment display.
Tesla expects to sell 5,000 units by the end of 2012. It also aims to make 20,000 units annually as soon as its plant operates at full speed. The Model S can start selling the Model S after it passes the needed cash tests.