Tesla: We gotta have 350 mill to get electric sedan off the ground

Tesla had submitted a request for 400 million in additional funding in November, which is pennies compared to what the Big Three have stated they need. However, like the large US car makers, Tesla says it must have 350 million of that right now, else the development of its electric model S sedan will not be able to get lifted off the ground. Unlike the $109,000 Tesla Roadster, which shares its architecture for the Lotus Elise, the Tesla Model S Sedan will be built on its own platform.

The car is supposed to be produced in a 250 million manufacturing facility located in San Jose, California, but Tesla CEO Elon Musk has stated that Tesla won’t be able to open it without immediate funds. He also added with government funding, it can start selling 20,000 units of the sedan annually by 2011.

Well, my take is that if there is immediate funding to keep the big guns alive and kicking and simply to keep their heads above water to the tune of billions, giving out this kind of money for a company that is basically being innovative and staying ahead of the curve should be done. But that's just me--I understand much of this bailout is named so because of it being reactive, so why would that change now?

Recent Entries:
· 2011 Ford Explorer
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car

[ READER COMMENTS ]

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.

Your Name: (required)

Your Email Address: (required, will be kept private)

Your Website's URL: (optional)

Would you like us to remember your info for next time?
YesNo

Your Comments: