A 0-60 is measured from the time the car starts to move. If you measure from when the accelerator is depressed, the Tesla gains a huge advantage and will beat the M5.
EDIT:
Here's a 0-100 video:
http://ca.autoblog.com/2012/10/09/sport-sedan-shootout-tesla...
Now unless there's some tricks in the video, it's quite obvious that the M5 does much better at the latter half of the drag than the first half. So if a Tesla can beat an M5 at 0-100, it will destroy it at 0-60.