Autoweek is reporting that production of the first battery-powered Tesla Roadsters began on Monday at a Lotus plant in England. The article says that Tesla expects 300 cars to be built this year, although it has taken about 600 orders for the 2008 model year, which is sold out, and has about 400 orders for the 2009 model, according to a company spokesperson.

The base price of the car is $98,950, with just about any of its options pushing the total above the 100 grand mark. The car itself is essentially a stretched, stiffened Lotus Elise—itself not exactly a wet noodle to begin with—and includes a three-phase, four-pole 248-hp electric motor mated to a two-speed, electrically actuated manual transmission. The motor's redline is 13,000 rpm.

The company claims that the car, with a curb weight of just 2,690 pounds, can hit 60 mph in 3.9 seconds, although its top speed is limited to 125 mph. Charging the battery takes 3.5 hours and gives a theoretical range of 220 miles, with an expected battery life of 100,000 miles.