Yes. It is official. The Tesla Model S will begin production by the third quarter of 2011. Some people’s electric car dreams will finally come through. Other than its electric features, the standout is that the car seats 7 (5 adults and 2 children). As for use, the car can be charged from any outlet without having to stop for gas. It has a 300 mile range, 45 minute QuickCharge, it goes from 0-60 in 5.6 seconds, it’s 2x as efficient as hybrids, and comes with a 17 inch infotainment touchscreen. The Tesla can reach speeds up to 120mph, and also has a panoramic roof and sliding moon roof. With all these features, the Tesla Model S is definitely a good buy for $49,900. More images after the jump.