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Tesla announces the Model S: a $60k, all-electric, five passenger sports sedan

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Our favorite Terminator (and Governor of California) Arnold Schwarzenegger has just helped Tesla Motors make an announcement that's probably sending chills through traditional automaker's boardrooms. The company has just introduced a fully-electric, five passenger sports sedan dubbed the Model S, which will be selling for $60,000, and will manage 225 miles on a full charge. The carmaker says it will produce the vehicles in a brand new manufacturing plant it's opening in Northern California. We're on the ground at the announcement right now -- no pictures or release date have surfaced yet, but you'll know more as soon as we do.

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