After Tesla unveiled the Model S all-electric family sedan on March 26, 2009, online and in person reservations started pouring in. Set to start production in late 2011, this is likely to be the world's first mass-produced, highway-capable electric vehicle. Tesla Motors set the Model S base price for $49,900 after a US federal tax credit of $7,500. The reservation fee of $5,000 is refundable. The Model S Signature Edition is also taking reservations with a $40,000 reservation fee (also refundable). Tesla Motors will be producing only 2,000 of the Signature Editions, the first ones built on the production line. These will be split between the US and European market, and will have unique interior and exterior features.