Photograph: Robyn Beck/AFP/Getty Images

I read a great story on Guardian.co.uk about the new Tesla Model M sedan. It’s an electric car that can run 300 miles on a single charge, is equipped to hit 130 mph top speed and can get up to 60 (from 0) in 5.6 seconds.

Tesla has already sold over 500 of these cars based on pre-orders. The funny thing is, there’s no assembly plant. These orders, at roughly $49,900 a pop, are being taken on a $5,000 refundable deposit basis.

While $50,000 sounds like a lot to go drop on a new car, given current market conditions, it is comparable to a fuel-powered vehicle at $35,000 based on lower running costs.

This is in addition to scaling production of the previously released Tesla Roadster.

Tesla secures over 500 Model S customers in first week

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