TSLA Tesla Inc

Tesla Motors Inc. has opened the ordering process for its new Model X, giving a fresh glimpse of the features buyers can expect on an electric SUV with a top-end price higher than a Porsche 911 street racer.

The Silicon Valley auto maker, currently selling the Model S sedan, is allowing certain buyers to configure a preordered Model X ahead of delivery. First announced in 2012, the SUV has flash falcon rear doors and is designed to fit as many as seven passengers.

But the package comes at a steep price. The high-end "Signature" model costs $132,000, slightly more than the base price for Porsche AG's 911 GT3. Tesla's SUV, completely battery powered, can travel from 0 to 60 miles per hour in 3.8 seconds, a half-second slower than the Porsche but far quicker than most vehicles on the market.

By adding a $10,000 "Ludicrous Speed Upgrade," the 0-60 mph speed falls to 3.2 seconds. A "Subzero Weather Package" (including a heated steering wheel and washer nozzle heaters) can be added for $1,000, and a towing package runs an additional $750.

Details of other versions of the Model X will be made available at a later date. Less expensive models will be sold, with the base price likely coming close to the $75,000 base price that is charged for a Model S with a 70 kwh battery and all-wheel drive.

Tesla estimates a $7,500 federal tax credit, $10,000 in fuel savings over five years, and state tax credits (which vary), could drop the cost of the Signature version to $112,000.

The Model X's debut is a big milestone for Tesla, which started operating about a decade ago selling an electric roadster. Using much of the same vehicle architecture as the Model S, the X is expected to boost Tesla's volume and help it transition from niche car maker to a player with higher volumes.

Tesla aims to sell between 50,000 to 55,000 vehicles in 2015, a sharp increase compared with 2014, and is aiming to eventually boost annual global volume to 500,000. Following the Model X launch, attention will turn to the auto maker's planned introduction of the lower-priced Model 3 family of electric cars, due in 2017.

Write to John D. Stoll at john.stoll@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

September 01, 2015 15:15 ET (19:15 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.