Silicon Valley electric car pioneer Tesla plans to stop production of its first electric car, the Roadster, in December 2011,according to a filing.
The Model X is said to “incorporate the functionality of a minivan with the consumer appeal of a sports-utility vehicle”. The company says the technology progress made with the Roadster S will be passed on to the new Model X which, company CEO Elon Musk has said, will hit the market in 2014.
Since 2008 Tesla has sold 1,650 Roadsters in 30 countries through March 2011. Tesla began producing right-hand-drive Roadsters in early 2010 for the British Isles, Australia, Japan, Hong Kong and Singapore.
The Tesla Roadster can be ordered with a $3,000 high-speed charger, which enables a 3.5-hour charge time via 220V/70A service in a residential setting.
The standard charger takes around 8 hours for a complete fill. A mobile “trickle” charger kit is also available, for connecting to a basic 110V outlet.
The Palo Alto, California-based Tesla, which was founded in 2003 by Elon Musk, a co-founder of PayPal and SpaceX, said it is also granting up to 795,000 shares of common stock to its underwriter at $26 a share.