For a small company, Telsa Motors has been making big ripples in the automotive industry with its electric roadster, Toyota partnership, and soon its electric luxury sedan. Even though the first Alpha-build Model S began road evaluations in December 2010, and it won’t be delivered to customers until mid 2012, the company has stated that pricing will begin at $49,900, after a $7,500 federal tax incentive.

Breaking News: Tesla Model S Scores 99 Rating from Consumer Reports

Pricing is tiered based on the storage capacity for the lithium-ion battery pack and projected range, climbing in $10,000 increments. The base car will promise a 160-mile range. The middle model touts a 230-mile range for $59,900, and the top model will give 300 miles for $69,900.

Tesla Motors says the first 1,000 cars off the production line will be the North American Model S Signature Series. Those vehicles will be equipped with a 300-mile battery. Being special-edition sedans, they will wear unique badging and an extensive complement of options. And it is expected early adopters will pay a price premium.

The rear-drive sedan will reported sprint from 0-60 mph in 5.6 seconds and have a 125 mph top speed.

Reservations are now being taken.

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By Jeff Prescott