Tesla Model S takes more than 500 orders in the first week

Article by Christian Andrei, on August 29, 2010

Tesla removed the wraps on its near-production Model S sedan last week at the Elon Musk's SpaceX headquarters and began accepting reservations for the car even when they haven't yet broken ground on the plant that will produce it.

In spite of this there have already been 520 people who have made a $5,000 reservation deposit for the car, thereby, raising $2.6 million for the development of the car.

The carmaker was surprised at the turnout of people who were willing to offer cash for the car. This exceeded their most optimistic projections. What this demonstrates is that people have already been waiting for more affordable, economical cars, even those made in the US.

This initial show of interest has strengthened hope that the car will eventually hit production, that is, assuming that it can overcome all the obstacles along the way. For instance, for Tesla to build the Model S, it still has to build a new factory. Tesla has applied for government assistance amounting to $350 million for this.

Although this amount is a drop in the bucket compared to the aid being sought by major car manufacturers it is still a tough call considering that the car is yet unproven by the Advance Technology Vehicle Manufacturing Program of the US government.

Further excitement is fueled by Tesla's announcement of a Model S Signature Edition of which the company will make 2,000 units split between European and American customers.

A deposit of $40,000 is required for reserving this special model which will come with unique features both inside and out. Performance number may have caused the initial interest for the car with sprint rate from 0-60mph in just 5.5 seconds, a 300 mile range and an attractive price tag of $57,500 (before a $5,700 tax credit).

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