With a promised price tag of less than $50,000 (after a $7,500 federal tax credit), the new Tesla Model S
sedan is certainly a good deal cheaper than Tesla's pricey roadster
, not to mention its competitors
, but according to Tesla CEO Elon Musk, it's actually quite a bargain compared to your run-of-the-mill sedan as well. As Musk tells it, "the ownership cost of Model S, if you were to lease and then account for the much lower cost of electricity versus gasoline at a likely future cost of $4 per gallon, is similar to a gasoline car with a sticker price of about $35,000." Musk further adds that the Model S would still be a bargain "even if gasoline were $1 per gallon," saying that it costs just $5 to drive 230 miles. Of course, all of that assumes that you'll actually be able to get your hands on the car one of these days, but Musk seems confident that'll happen as well, saying that the company is "close" to receiving $350 million in loans from the U.S. Department of Energy, which would be used to build the plant in California that would manufacture the Model S.