Far be it from me to start ringing death knells over Tesla Motors, (or General Motors* for that matter), but with so many uncertainties surrounding the faltering world economy crisis, it has begun to impact both Tesla Motors and GM negatively, leaving us with several burning questions about the future of mass production EV's.
In mid-October 2008 Tesla CEO Elon Musk, who has helped bankroll Tesla, became its third CEO in less than a year. Musk announced layoffs and delayed the debut of its forthcoming electric sedan, the Model S electric saloon after failing to secure a $100 million investment round.
Little could Nikola Tesla have imagined that more than 100 years after he invented the world's first AC motor, a new kind of electric sportscar would be named after him. Yet the battle over who will be the "Edison" of the electric car is as alive today as any race between inventors at the turn of the last century.
With a top speed of 125 m.p.h. (200 km/h), the Tesla Roadster has excited the clean-tech crowd since it was first announced in 2003. Popular celebrities like George Clooney joined a long waiting list for the Roadster; magazines like Wired and Popular Mechanics drooled over it.
After years of setbacks and shake-ups, the first Tesla Roadsters were delivered to customers this year. Reviews have been ecstatic, but Tesla Motors has been hit hard by the financial crisis. Plans to develop an affordable electric sedan have been put on hold, and Tesla is laying off employees. But even if the Roadster turns out to be a one-hit wonder, it's been one hell of an (electric) ride. More about Tesla Motors.
I CAN DELIVER! Says ELON MUSK
Tesla Motors CEO Elon Musk explained why Tesla had to let 10% of his employees go last month. "Before 'market Armageddon' occurred, the point was to raise $100 million. And we intended to get going with that in full force before the market collapsed," he said. The company settled for cutting costs and raising $40 million from its existing investors.
Despite the tough economic climate, Musk felt confident that Tesla could have raised the $100 million. However, he said that would have meant giving up more control of the company.
Musk says the company is presently churning out 10 of its Roadster sports cars a week and by early next year will make 30 cars per week. He says Tesla will be profitable when it sells its expected lot of 1,200 Roadsters.
"I may be optimistic with the schedule, but I can deliver," says Musk.
CHASING EVs in LA with RemyC & Ashley Van Dyke
Our good friend Remy Chevalier from Electrifying Times made a long awaited trip to L.A. last month, where he met up with race car driver Ashley Van Dyke for a first time visit to Tesla Motors showroom located at the corner of Sepulveda and Santa Monica Blvd. You think L.A. is hot?! Click her photo and check out Ashley's Tesla Roadster test drive video and story, 'Chasing EVs in L.A.'.
Miss Van Dyke got to take a Tesla around L.A. and you won't believe how fast she began to fall in love with the super-fast roadster, and for all the right reasons. Later on, Ashley and Remy made their way over to visit Taryn Sokolow at Environmental Motors for more fun in the no-gas lane. A trip you'll nEVer forget! Check it out.
David Cutter aka EV Rider Village Energy / Pleiades-Enterprises.com
GM
on
the
Brink?
The government faces a difficult choice. If it provides G.M. with a bailout, there is no guarantee the company will not need more money later to stay out of bankruptcy, particularly with the economy weakening.
But a bankruptcy by G.M. or any other automaker would have far-reaching consequences, given the millions of people employed by supplier companies, dealers and other small businesses that are dependent on the industry.
CHASING EVs in L.A. Ashley Van Dyke makes a first time visit to Tesla Motors showroom located at the corner of Sepulveda and Santa Monica Blvd. You think L.A. is hot?! Check out Ashley's Tesla test-drive video and' Chasing EVs in LA Long-time electric vehicle and clean air advocate, RemyC is well known in the industry as the intellectual philosopher visionary guy behind the scenes at Electrifying Times - New Energy News ask RemyC 10 Questions - Is a Tesla Roadster on Remy's wishlist and do you even give a shit? REmy shares a pot load of gold if you make the jump, so you decide.
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Tesla Motors CEO Elon Musk explained why Tesla had to let 10% of his employees go last month. "Before 'market Armageddon' occurred, the point was to raise $100 million. And we intended to get going with that in full force before the market collapsed," he said. The company settled for cutting costs and raising $40 million from its existing investors.
