Elon Musk: Tesla Model S sedan sold out for 2012, company to turn profit in 2013

Tesla Motors CEO Elon Musk said in an interview with Bloomberg that the company has sold out next year’s production of the new Model S electric sedan and that the company should earn a profit in 2013.

Musk said that the company has orders of more than 6,500 units of the Model S to be built next year. The electric Tesla Model S will carry a starting price tag of 49,900 after a federal tax credit of $7,500.

“They’re mostly new buyers,” Musk said. “Only about 600 people who have ordered Roadsters have also bought the Model S.”

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While Tesla Motors has yet to turn an annual profit, Musk said that move could happen in 2013.

Refresher: The Tesla Model S sedan can be recharged from any 120v, 208v or 240v outlet. Depending on which Model S trim-level you chose, the all-electric sedan will provide you with a total range of 160, 230 or 300 miles per charge. 0 to 60 comes in just 5.6 seconds with a top speed that is limited to 130 mph. Pricing is expected to come in at $49,900 after a federal tax credit of $7,500. A $5,000 reservation fee is required but is refundable.

– By: Omar Rana

Source: Automotive News