Tesla posts $89.9M Q1 loss, Model S coming sooner than expected

It seems like we've been hearing about the Tesla Model S for a decade, but a report in Yahoo states that the electric sedan is only a month away from production. That's about one month ahead of schedule, as Tesla is reportedly wrapping up crash testing fast enough to start making the hotly anticipated EV.

The Model S couldn't come at a much better time for Tesla, as the automaker just announced a first quarter loss of $89.9 million. The prospects aren't any better for Q2, but the second half of the year should be an entirely different story. Q1 revenue was only $30 million, and the first half revenue is expected to come in around $60 million. With the Model S around for the second half of the year, sales are expected to skyrocket into the $600 million range. Tesla plans to move about 5,000 units in 2012, even though the automaker currently has 10,000 orders in-hand.

Some of those 10,000 hand-raisers might have something more to get excited about, as Tesla announced that the top range Signature model, which features a 85-kWh battery pack, will be able to travel 320 miles on a two-cycle charge. That's 20 miles more than Tesla previously announced. The first 1,200 copies of the Model S will be Signature models with the largest-possible battery pack.