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Palo Alto-Based Tesla Motors Ramps Up Production

PALO ALTO (KCBS) – As experts predict a boom in the electric car industry, Palo Alto's Tesla Motors is hoping to lead the way.

The company's new family sedan, the Tesla Model S, will be the first plug-in electric high-end sedan, costing about $50,000 when it comes out next year.

KCBS' Doug Sovern Reports:

Tesla spokesman Diarmuid O'Connell said the four-door sedan will be the foundation for a plug-in SUV.

"Five passenger front facing and a plus-two configuration in the back. We've got a flip-up seat and rear facing for children up to a certain age," O'Connell said.

Tesla will also build the Model X, a crossover SUV, on the S Platform by selling another five million shares of stocks to raise the necessary capital.

Both will be manufactured at what used to be the NUMMI plant in Fremont.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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