Speaking to Tesla owners at a meeting in Norway, he said that a four-wheel-drive version of the Model S could go into production close to the launch of the company's forthcoming Model X SUV, which is due to arrive in Europe in mid-2014.
"There's potential for an all-wheel-drive Model S, but it's not going to be happening for a few months. It'll be close to when an X happens - not soon, basically," Musk commented.
Currently the £50k Model S, which can accelerate from 0-60mph in 4.7sec and cover up to 300 miles on a single charge, is offered in rear-wheel-drive form only.
The launch of a four-wheel-drive saloon would serve to raise Tesla's profile, by allowing it to provide an alternative to the likes of Audi's quattro-equipped models, BMW's xDrive options and Mercedes with 4Matic.
Audi has recently announced its intentions to launch a battery-powered version of its Q8 SUV, however, in order to directly rival the growing popularity of the Tesla and its upcoming Model X - a four-wheel-drive SUV with seven seats and a claimed range of 270 miles.