Tesla confirmed Model S electric sedan

Tesla announced today that the future electric sedan will be built at Bay Area. Sales will begin in two years.

The sedan, know internally as the Model S will the firm’s second-generation automobile, it is expected to cost about $60,000 and will go into production by late 2010, company officials say.

State officials said companies like Tesla are essential in helping to meet California’s ambitious goal under the landmark legislation AB32, which requires the state to reduce greenhouse gas emissions by 30 percent by 2020.

"We believe that electric vehicles will play a big role in helping California succeed in implementing its landmark climate change laws," Dresslar said.