It’s also massively overpriced when compared to what could be called “competition” – the Porsche Cayenne S E-Hybrid, starting at $77,200. “And now we’re going to show that you can do it with the SUV“. The back doors of the Model X open similar to the Mercedes-Benz AMG SLS series but use advanced sensor technology to ensure there’s enough space surrounding the vehicle before opening.

One of the most iconic features of the new vehicle is the futuristic falcon-wing doors, which open vertically instead of swinging out. Only a fraction of the sippy cup set will be able to afford the Model X, even with an available Dollars 7,500 federal tax credit. However, by paying an additional $10,000, customers can go in for a “Ludicrous” model of the vehicle which accelerates from zero to 60mph is just 3.2 seconds.

While enjoying increasing revenues, the company has yet to post an annual profit – because its management remains focused on investing in new-model development and greater production capacity, in excess of incoming revenues. Chief Executive Elon Musk handed over the keys of six Model X SUVs to a select group of investors and board members on Tuesday evening.

At its California factory on Tuesday, Tesla will unveil the Model X and mark the beginning of shipments.

In selling this as a family vehicle, Musk emphasized that the Model X “is the safest SUV ever”, with five-star safety ratings.

We recently learned that Tesla was burning through cash and taking a more than $4,000 loss on every auto sold, though, in August the company beat analyst expectations for its second quarter earnings.

Tesla has an estimated 25,000 pre-orders both online and in-store and plans to fulfill the orders within 8-12 months, according to Reuters. The base price actually runs to $132,000 for the Signature Series, which includes add-ons like an autopilot mode and heated steering wheel and seats. For anyone who reserves a vehicle now, Tesla is estimating a delivery date in early 2016.