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WIRE

Tesla Announces 2 New Models
 

Elon Musk says the new models will be available in 2016, with a $30,000 entry-level sedan coming a year earlier.

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Tesla Roadster

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Tesla founder Elon Musk has already changed America's perception of electric cars, building a sleek, stylish high-performance vehicle beloved by the Silicon Valley elite.

Now the automotive pioneer wants to build a car for you.

Tesla is planning both a new crossover SUV and its first sportscar since the discontinued Tesla Roadster, with debuts slated for 2016, Musk told Wired.

The two new models will be released at the same time, following the arrival of an entry-level, $30,000 sedan that the company hopes to have available by 2015, Wired reports. The fleet also includes a family car, the Model X, which is already on the market.

Musk told Wired the cars will help Tesla reach economies of scale and turn a profit.

The company debuted as an exclusive brand, producing only 2,300 of its sporty Roadsters over the course of four years and selling them at elite prices. But its expansion to a broader market with the Model S sedan--which ranges in price from $49,900 to $97,000, depending on features--required a big investment, Musk recently told AutoBlog.

"If the Roadster was the only thing we did, then we could have achieved profitability, but we would be a much smaller company," he told the auto website.

Musk gave Wired few details about the new models, and declined to say whether the new crossover SUV will have the Model X's trademark "falcon wings." He did say, however, that the new sportscar "will have supercar performance, but not supercar pricing.”

Last updated: Sep 12, 2012

JOHN MCDERMOTT is a business and culture reporter whose work has appeared in the Chicago Tribune and Playboy and on AOL.com. He recently moved from Chicago to Brooklyn, New York, to work for Inc.com.
@J_M_McDermott




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