Tesla Motors (TSLA) CEO Elon Musk unveiled the electric automaker's first SUV - the Model X. 'Any type of car can go electric,' he told a packed crowd at an event in California Tuesday night. But Tesla's long-awaited SUV isn't cheap - priced at $132,000. It’s expected to compete with BMW (BAMXY), Rolls-Royce (RYCEY) and Bentley. 'With the Model X, we've created the safest SUV ever,' Musk said. The SUV has a five-star safety rating in every category from the National Highway Traffic Safety Administration. 'Normally with a gasoline car, you've got a large steel engine block in front,' Musk added. 'In a high speed impact, that engine block compresses into the passenger compartment and obviously causes damage to the people sitting there. With the Model X, there is no such thing.' The Model X has a top speed of 155 mph and can travel 250 miles on a single charge. TheStreet's Scott Gamm reports from New York.