Tesla, manufacturer of the Roadster electric vehicle, will cease production of its halo model to focus on a yet-to-be-shown mid-sized, four-door sedan and its larger Model S (pictured).
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“We do not plan to sell our current generation Tesla Roadster after 2011 due to planned tooling changes at a supplier for the Tesla Roadster,” Tesla said in a statement.“As a result, we anticipate that we may generate limited, if any, revenue from selling electric vehicles after 2011 until the launch of the planned Model S.”

Tesla has to date sold 1,000 examples of it electric Roadster.

The news comes at a curious time for the Silicone Vally-based manufacturer, who yesterday announced plans to launch an IPO (initial public-stock offering), the first for any car manufacturer since Ford was floated in 1956. Investors may however be in for a bumpy ride with Tesla already losing money and facing a year or more with no vehicle to sell.

The Model S will go on sale in 2012 with a new Roadster expected the following year - assuming there are no delays. Any setbacks on the Model S will push back development of the new Roadster.

“The launch of the Model S could be delayed for a number of reasons and any such delays may be significant and would extend the period in which we would generate limited, if any, revenues from sales of our electric vehicles.” Tesla said in the same statement.

There's no word yet on timing of its mid-sized EV. CarAdvice will keep you posted.