In a company newsletter distributed this week, Musk also said a "street-drivable prototype" of the Model S will be formally unveiled on March 26 at the Tesla design studio, which is located within Musk's SpaceX rocket factory outside Los Angeles. Notably, former Mazda designer Franz von Holzhausen runs the car studio.
The Model S is a five-passenger sedan powered by a lithium-ion battery pack. It's expected to be priced starting at $60,000. Tesla originally had hoped to begin production in 2009, but recently said it had canceled plans to construct a new factory for the Model S in San Jose.
This week's announcement comes in spite of the fact that Tesla has been chronically short of cash. The Department of Energy has yet to approve its request for $350 million in loans.
In the newsletter, Musk says, "the Department of Energy informed Tesla last week that they expect to disburse funds from our Model S loan application within four to five months."
Provided the application gets the green light, Musk said that buyers of the Tesla Roadster will be "first in line" to order the sedan and that "they will receive a $10,000 discount off the price of the Model S Signature series."
Inside Line says: The Model S production date already has shifted several times. Better wait for more news from Washington before placing that order. — Anita Lienert, Correspondent
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