Tesla Motors, who sent shockwaves through the industry with the introduction of the Elise-based electric sportscar the Tesla Roadster (shown above) has announced that it will be making a new 4-seater sedan aimed at the BMW 5-Series, to be released by the end of the decade.

The luxury electric sedan is set to be available globally in two variants, one with a similiar engine to the Tesla Roadster (248 horsepower) with a 320 kilometer range on a single charge, and another more powerful variant with a higher range – about 480 kilometers. The sedan will be built with lightweight steel, and production is expected to be 10,000 to 20,000 units annually.

This is likely the first manufacturer to come up with a fully electric powered sedan for mass production, while other manufacturers have gone different paths – Lexus is focusing on hybrids while BMW is investing in hydrogen and turbodiesel technology.

Don’t expect anything funky like in-wheel motors though, the motor and battery pack will be positioned traditionally in the front, and power will be sent through the rear wheels.