PALO ALTO, CA - Tesla Motors plans to produce 5,000 Model S electric cars in 2012, with U.S. deliveries expected to get under way in mid-year, the Wall Street Journal reported. 

The Model S, with an advertised range of up to 300 miles per charge, will be priced at about $77,400, WSJ reported. But a Model S variant with a 230-mile range will be priced at about $67,400, and a version with a 160-mile range will go for $57,400.

Production is expected to reach 20,000 units in 2013. 

Tesla went public in June 2010. The company recently reported a fourth-quarter loss of $51.4 million, but revenues were higher than expected. 

CEO Elon Musk in February said Tesla has enough funds to produce the Model S but may seek more investors to produce a planned electric SUV called the Model X.