The Model S also received a 265-mile range on the EPA's new five-cycle testing procedure
Tesla's top-of-the-line Model S has finally received its EPA ratings, and as previously predicted, the vehicle landed a 265-mile range.
Tesla's Model S is an electric sedan that comes in three different versions, with 40 kWh, 60 kWh or 85 kWh battery packs. The lower-end 40 kWh base model will sell for $57,400 while the higher-end model will sell for $105,400. The Model S is eligible for the $7,500 federal electric tax credit as well.
The U.S. Environmental Protection Agency (EPA) has released its ratings for the high-end 85 kWh Model S, giving the electric sedan a mile per gallon equivalent (MPGe) rating of 89 combined, or 88 city and 90 highway.
Also, the Model S underwent the EPA's new five-cycle testing procedure scoring a 265-mile range. The vehicle also landed a 300-mile range using the EPA's traditional two-cycle testing. This puts the Model S far ahead of the electric competition.
With these kinds of EPA ratings, the Model S is sure to gain some attention. In fact, the EV has already proved to be a popular addition to Tesla's electric family with 10,000 reservations so far, where each customer had to pay $5,000 to reserve the vehicle.
Also, the automaker expects the Model S to help bump its annual revenue estimate to $560 million to $600 million USD, which is about $175 million per quarter. This is about six times its current revenue.
Last month, Tesla also announced that the Model S would arrive ahead of schedule, causing the automaker's stock to surge.
Clearly, the Model S has been helpful for Tesla's pocket, which took a big hit earlier this year. In Q1 2012, the automaker poured out $89.9 million USD in losses. Since 2009, Tesla has reported losses of over $500 million USD.
Tesla Motors received $465 million in federal loans from the U.S. Department of Energy in order to retrofit a former General Motors and Toyota factory as well as develop the Model S. So far, Tesla has used about $360 million of that loan.
Tesla will begin shipping the Model S tomorrow.
Source: Auto Blog
"If you can find a PS3 anywhere in North America that's been on shelves for more than five minutes, I'll give you 1,200 bucks for it." -- SCEA President Jack Tretton
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