DailyTech Tesla to Begin Shipping Model S June 22

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TESLA Model S – 85 kWh Auto

Tesla Model S (Source:

The Model S has 10,000 reservations so where each customer had to pay to reserve the vehicle

Tesla has announced that it will shipping its Model S electric on June 22, 2012.

It has been years since the Model S was announced, but Tesla is finally to start sending its all-aluminum sedan to the buyers. The Model S has reservations so far, where customer had to pay $5,000 to reserve the

The Model S comes in three versions, with 40 kWh, 60 kWh or 85 kWh packs. The lower-end 40 kWh base will sell for $57,400 the higher-end model will for $105,400. The Model S is eligible for the federal electric tax credit as

Just last week, it was that the 85 kWh model could a 265-mile driving range sticker rating from the which would put the Model S far of the electric competition.

The Model S is being produced in a retrofitted of a former General Motors and venture in Fremont, California. Motors received $465 in federal loans from the Department of Energy in order to the factory and develop the Model S. So Tesla has used about million of that loan.

The Model S couldn t have at a better time, considering the that Tesla Motors has losses of over $500 since 2009. Up until Tesla has only released its $109,000 Roadster.

Despite losses, the Model S is coming to the With news of the Model S ahead of schedule earlier month, Tesla stock 10 percent. The automaker expects the S to help bump its annual estimate to $560 million to million USD, which is $175 million per quarter.

This is about six times its revenue.

In afternoon trading on Tesla shares were up than 8 percent at $31.09. It is up about 14 percent since 2012.

The next step for will be to release the Model X, is a full-sized battery electric sport utility vehicle will start production by the end of

Tesla isn t the only successful that CEO Elon Musk has now. At 3:44 a.m. EST morning, Musk s private company SpaceX became the to launch a spacecraft to the International Station (ISS) in the private

SpaceX sent its unmanned cargo capsule, which is to reach the ISS tomorrow.

Beyond initial venture, SpaceX make 12 more trips to the station through a $1.6 contract.

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