An unconventional type of electrostatic loudspeaker is presented in this paper. The loudspeaker made of thin, light, and flexible electret material lends itself well to the space-concerned applications. Electrical impedance measurement reveals that the coupling between the electrical system and the mechanical system is weak, which renders conventional parameter identification based on electrical impedance measurement impractical. A different approach is thus employed to model the electret loudspeaker. To predict the loudspeaker’s dynamic response, finite-element analysis (FEA) is conducted on the basis of a simple model and a full model. In the simple model, FEA is applied to model the electret membrane, leaving the rest of system as rigid parts. In the full model, FEA is applied to model the entire membrane-spacer-back plate assembly. Velocity response of the membrane subject to a uniformly distributed force is calculated using FEA harmonic analysis. Mechanical impedance is then calculated with the velocity response. The acoustical impedance due to the back cavity, pores, and the radiation loading at the front side is calculated by theoretical formulas. The volume velocity of the membrane and the resulting on-axis sound pressure level are predicted with electrical-mechanical-acoustical analogous circuits. The response data predicted by the simulation compare very well with experimental measurements.