Tesla says it will build a $60,000 five-passenger luxury sedan with a lithium-ion battery pack capable of delivering 240 miles per charge

The Tesla Brand of luxury electric vehicles is certainly capturing a lot of the limelight as the era of the EV dawns. The company has announced a state-of-the-art US$250 million assembly facility in the heart of Silicon Valley Silicon Valley . The facility will build a new US$60,000 five-passenger luxury sedan with exceptional performance and a lithium-ion battery pack capable of delivering 240 miles per charge. The first sedans are likely to roll off the assembly line in late 2010.

The new plant will be able to produce at least 15,000 sedans—up to 30,000 with the addition of a second shift. About half of the production vehicles will be slated for sale in Europe. Tesla has not yet started taking deposits on the Model S, but executives anticipate extremely strong demand in the EU and USA.

For further information: BusinessWeek