Tesla plans Model X in 2014

Just the Facts:

* Tesla confirmed it is planning to introduce a battery-powered crossover in 2014.

* Called the Model X, Tesla CEO Elon Musk says the company hopes to have a prototype of the crossover by the end of next year.

FREMONT, California — Tesla Motors CEO Elon Musk confirmed the electric-vehicle maker is planning to introduce a battery-powered crossover, the Model X, in 2014, about two years after the mid-2012 launch of its midsize Model S sedan.

In an interview with Greentech Media at the formal opening of his company's production facility here in a former Toyota-General Motors plant, Musk said, "I'm hopeful we will unveil a prototype [of the Model X] toward the end of next year. When it will go into production is harder to predict because we want to make sure the Model S production line is operating smoothly before we introduce another variant. But certainly within two.... In less than two years when we start Model S production, we will have the Model X."