Tesla S

On Wednesday evening in the lobby of the IAC/InterActiveCorp building in Manhattan's downtown Chelsea neighborhood, electric car start-up Tesla Motors threw a late-night party to bring together owners and prospective buyers, as well as to celebrate founder Elon Musk's appearance on "Late Show With David Letterman" that day.

On display was a prototype of the company's forthcoming Model S sedan, a $50,000 alternative to its much pricier--and already-on-the-market--Tesla Roadster. The car, which will go into production in 2011, can seat seven people and can go 300 miles before needing a recharge.

(Disclosure: "Late Show With David Letterman" airs on the CBS broadcast network, which is owned by CBS Corp, publisher of CNET News.)