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Tesla Confirms Delivery of First Model S Sedans for Mid-2012

Tesla Motors Inc., the U.S. electric carmaker that plans to build a rechargeable sedan in California, is on schedule to begin delivering the battery-powered Model S starting in mid-2012.

Initial production at Tesla’s Fremont, California, plant will be of 1,000 units of high-end “Signature” Model S sedans, said Ricardo Reyes, a company spokesman. That version will cost as much as $92,400, prior to a $7,500 federal tax credit, and have enough lithium-ion battery capacity to travel 300 miles per charge, Tesla said yesterday.