Many people think that electric cars are new technology. In contrary, electric cars have been around for over 100 years. Did you know that in 1900 more electric vehicles were sold than gasoline and steam powered vehicles? (See Source)
Electric development is gaining speed. A relatively new California based start up company (incorporated in 2003), Tesla Motors, is committed to creating 100% electric propelled vehicles. Originally releasing a $100,000+ all-electric sports car, the Tesla Roadster, the company is now taking “reservations” for a 4 door sedan – the Tesla Model S. After opening up the reservation process, over 500 people have already put up the hefty $5000 refundable reservation fee in one week since the vehicle was launched. Production of the Model S is schedule for late 2011. The Model S will sell for about $50,000 after a $7,500 federal tax credit. (See Source) With an available 300 mile range, will the Model S compete with other luxury sedans?