California Governor Arnold Schwarzenegger and Tesla Motors will host a press conference tomorrow during which the former body builder and actor will reportedly unveil the company’s new 4 door, 5 passenger sedan which was scheduled for release in 2010.

Schwarzenegger’s presence it’s not just an endorsement, the project is a partnership between the car company and the state of California. Tesla chose to make the sedan in California instead of manufacturing it in New Mexico, thanks to a $9 million incentive package.

Tesla Motors is a Silicon Valley automobile startup company which focuses on the production of high performance, consumer-oriented battery electric vehicles.

Tesla didn’t release many details about the new sedan, but rumor has it that it will be called the Whitestar and is as efficient as the Roadster model.

The sedan will reportedly cost slightly less than $109,000, the price of the Roadster.

However, it is not sure whether the Governor and Tesla Motors will actually unveil the new “green family” sedan or they will host the press conference just to talk about the collaboration between California and the car manufacturer.

New Mexico offered Tesla a $7 million incentive package to build its new model there, but California won the race by offering the car manufacturer sales tax exemption for the purchase of manufacturing equipment and grants for the training of new employees.

Tesla Motors, named after electrical engineer and physicist Nikola Tesla, is known for its fancy electric sports cars. The company’s latest project is to manufacture the nearly $60,000 sedan to expand into a more mainstream market.