A large Tesla sign over the Toyota plant announced that Tesla is now the proud owner of the property. The New United Motor Manufacturing Inc. (NUMMI) plant will now be the base for Tesla Model S production. This sleek four-door premium sedan will have an all-electric drivetrain, and will offer a range of 300 miles. Though designed for comfort, safety, and utility, the coveted Model S does not sacrifice on performance.
Tesla believes that buying the plant for $42 million was quite a bargain because building a new plant would cost hundreds of millions of dollars. As of now, the company will work only on the south area of the 5.5 million square feet facility by putting the machines and processes in place. The plant came with the equipment that will be useful for Model S production, ranging from simple carts to massive presses for stamping out steel body parts. The Tesla Model S is expected to be available in 2012.