Tesla Motors has been talking about the electric Model X crossover for some time. Most recently, it has been reported that Tesla is hoping to launch a secondary stock offering of 5.3 million shares to raise additional funds to develop its electric Model X.
In a filing last week with the U.S. Securities and Exchange Commission, Tesla said that the Model X prototype will debut by the end of the year.
Tesla is “designing the Model X to incorporate the functionality of a minivan with the consumer appeal of a sports-utility vehicle,” the filing said. Tesla said that the electric powertrain for the Tesla Roadster “has provided the foundational technology for the Model S, the Model X and for electric powertrain components that Tesla has begun selling to Daimler and its affiliates that it intends to sell to Toyota.”
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The Tesla Roadster itself will be ending production in December.
The production version of Tesla’s Model X crossover will hit markets in 2014, about two years after the mid-2012 launch of the Model S electric sedan. The Tesla Model X will use a similar powertrain found in the Model S.
– By: Omar Rana
Source: Inside Line