Who says the electric car is dead? The Washington Post is reporting that California-based Tesla Motors is close to leasing space on K Street for a dealership and service station. Tesla, founded in 2003, is a maker of luxury electric cars. The company raised more than $200 million with their IPO earlier this year. Tesla told the Post the location they are considering is at 1050 K Street, NW.

Tesla cars are not cheap, with prices starting at over $100,000. This would be very high end retail, aimed at the area’s wealthiest residents. According to a Tesla spokesman, their vehicles are most likely to be replacements for hybrid vehicles or sports cars. Tesla cars are known for their sporty features, including the ability to go from zero to 60 miles per hour in 3.7 seconds.

The District is poised to become a showplace of electric car technology, with both Nissan and General Motors planning on unveiling their offerings here in the near future. The District government has been betting on this technology, planning for electric recharging stations across the city.

City officials are jumping at the chance to get a deal inked for Tesla. Deputy Mayor for Planning and Economic Development Valerie Santos told the Post she hopes Tesla would reinvigorate downtown retail, and that this bucks the trend of declining retail options. In anticipation of a signed lease, DCRA has also indicated there would be no zoning issues for the proposed location.