Tesla projects vans, SUVs to follow sedan (Silicon Valley)
Tesla Motors Inc. has shown potential investors "freaking bad ass" plans for electric SUVs, cabriolets and vans to follow its planned sedan.
The potential new models are shown in a road show given by CEO Elon Musk leading up to the expected $185 million initial public offering by the company on June 29. Toyota Motor Corp. has pledged to buy another $50 million in Tesla stock after the IPO.
"Freaking bad ass" is how he describes the variations on the Model S sedan the Palo Alto expects to start making in 2012 at the former New United Motor Manufacturing Inc. plant in Fremont. To see the Tesla IPO presentation click here.
Unlike the company's only existing electric car that it has actually delivered, the Roadster, the sedan and other models shown in the road show would be completely built by Tesla. The sports car body and frame is now produced by Lotus, whose British factory is closing for renovations before Tesla can produce its sedan, causing a gap during which the company will be delivering no cars.
Tesla last week discussed in a blog posting how it plans to build the sedan at the NUMMI plant.
If the Toyota-Tesla partnership proceeds as outlined, the companies could also be producing electric vehicles together in Fremont, with speculation centering on an all-electric version of the hybrid Prius.
Toyota's announcement last week that it plans to restart a plant in Mississippi to build Corollas has fueled further speculation that hybrid Prius manufacturing could happen at the plant the Japanese auto maker abandoned in April. The Mississippi plant had once been touted for Prius production as well.
Read more in the Silicon Valley / San Jose Business Journal.
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