They already have the Model S sedan, which is set to go on sale in 2012, but now they are also working on a crossover vehicle, which is referred to as the Model X.
Tesla is hoping to debut this new model by the end of 2011 (perhaps at the next L.A. Auto Show), is offering a secondary stock offering of 5.3-million shares in order to raise funds for the project.
The Model X will utilize the same technology as the upcoming Model S, but offer it in a more practical platform. If all goes according to plan, this model will hit showrooms in 2014. Plans for the car were revealed in filings with the U.S. Securities and Exchange Commission.
The Tesla Roadster will end its production run by December of this year.
[Source: Inside Line]