PALO ALTO (KCBS) – As experts predict a boom in the electric car industry, Palo Alto’s Tesla Motors is hoping to lead the way.
The company’s new family sedan, the Tesla Model S, will be the first plug-in electric high-end sedan, costing about $50,000 when it comes out next year.
KCBS’ Doug Sovern Reports:
Tesla spokesman Diarmuid O’Connell said the four-door sedan will be the foundation for a plug-in SUV.
“Five passenger front facing and a plus-two configuration in the back. We’ve got a flip-up seat and rear facing for children up to a certain age,” O’Connell said.
Tesla will also build the Model X, a crossover SUV, on the S Platform by selling another five million shares of stocks to raise the necessary capital.
Both will be manufactured at what used to be the NUMMI plant in Fremont.
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