Tesla Motors, the electric car startup company, recently unveiled their new Model S car in Los Angeles. The electric prototype car will cost $49,900, after a $7,500 tax credit and will be available for purchase in late 2011.

“Model S doesn’t compromise on performance, efficiency or utility — it’s truly the only car you need,” said Tesla CEO, Chairman and Product Architect Elon Musk. “Tesla is relentlessly driving down the cost of electric vehicle technology, and this is just the first of many mainstream cars we’re developing.”

The Tesla Model S will have a range of 300 miles with the possibility to buy less expensive batteries that will give you a range of 230 or 160 miles. The charging time is expected to take 4 hours, or 45 minutes by using a “quickcharge”. The car will do 0-60 mph in less than six seconds (5.6 seconds), a sport version of the car is promised to achieve 0-60 mph “well below five seconds”.

“Model S costs half as much as a Roadster, and it’s a better value than much cheaper cars,” Musk said. “The ownership cost of Model S, if you were to lease and then account for the much lower cost of electricity vs. gasoline at a likely future cost of $4 per gallon, is similar to a gasoline car with a sticker price of about $35,000. I’m positive this car will be the preferred choice of savvy consumers.”

The car will also have access to internet via 3G and be equipped with a 17-inch LCD screen in the center console. You will also be notified by SMS when the Model S has fully charged its batteries.