Tesla's new sedan will make or break the company - 13 WTHR Indianapolis

Tesla's new sedan will make or break the company

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DETROIT -

It's a make or break moment for electric-car maker Tesla Motors.

Tesla has lost nearly $1 billion selling high-end electric sports cars. The company's first mass-market, five-seat sedan will be delivered today. The Model S will either drive the company to profitability or leave it struggling with terms of a $465 million government loan.

Tesla is the brainchild of PayPal billionaire and SpaceX founder Elon Musk.

The Model S has a starting price of $49,900 after a federal tax credit - about the same as a Lexus RX hybrid crossover. Models top out at nearly $102,000.

Tesla says more than 10,000 people have put down a refundable deposit for the sedan, and it expects to sell 5,000 this year.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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