August 16, 2006

SAN CARLOS, Calif. (Aug. 16, 2006) - The limited-edition "Signature One Hundred" series Tesla Roadster, the first high-performance electric car manufactured by Tesla Motors, has sold out in three weeks, confirming that the sleek, stylish, zero-emissions Tesla Roadster is a hit.


Unveiled last month before a throng of well-wishers and automotive enthusiasts in Santa Monica, Calif., the Tesla Roadster is transforming the auto industry, proving that it is possible to deliver sports car performance in a handsome, environmentally friendly vehicle.

"Our goal in designing the Tesla Roadster was to build a car with zero emissions that people would love to drive," said Tesla Motors Co-founder and CEO Martin Eberhard. "Each of our Signature One Hundred customers could drive any flashy, fast, gas-powered car they want. Instead they did the right thing, investing in an attractive car that uses no oil and is responsible for far fewer greenhouse gasses than the alternatives."

Eberhard continued: "Getting a 'Signature One Hundred' Tesla Roadster provides entry into a very exclusive group. These early customers are pioneers, helping lay a foundation that will make electric cars possible for everyone - enabling Tesla Motors to develop future models at price points that eventually work for every budget."

Tesla Motors Chairman Elon Musk agreed. "Customers of the Tesla Roadster are doing something really good that goes beyond just buying a sports car, because their purchase helps pay for development of our affordable, mass market electric vehicles," said Musk. "Buying a Tesla Roadster is a vote against global warming and oil addiction."

The electric-powered Tesla Roadster is capable of accelerating from 0-60 mph in about four seconds. It boasts the equivalent of 135 mpg and a range of 250 miles on a single charge, a combination heretofore unseen in a mass-produced electric vehicle*. Its extended range is due to its state-of-the-art lithium-ion Energy Storage System.

Each customer made a $100,000 deposit to join the Signature One Hundred Club and reserve their "Signature One Hundred" special edition Tesla Roadster. The "Signature One Hundred" edition includes a commemorative plaque in the cockpit personalized for the customer and signed by the company's principals, a special Signature One Hundred trim package and all available options, including a state-of-the-art navigation system and a hard top. Deliveries of the Tesla Roadster are expected to begin in mid-2007.

The Signature One Hundred Club has attracted a diverse group of members including performance sports car devotees, alternative energy advocates, technology enthusiasts, "Clean Tech" supporters, environmentalists and members of the financial community. Some of the initial members include Oscar® winner George Clooney, Dennis Haysbert (of "24" fame), Jim Marver of VantagePoint Venture Partners, Jeff Skoll, formerly of eBay, as well as Eberhard and Musk. Each has reserved their "Signature One Hundred" edition Tesla Roadster.