Tesla Motors keeps rolling with new round of financing

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Jaxtr CEO Is Out

Tesla Motors has been hit hard with credit crunch of late, but the billionaire founder of Telsa and PayPal has personally guaranteed that all of the 1,200 battery-powered Tesla Roadster pre-orders will be filled.  So far, only 60 of the 1,200 cars have been delivered and the company seems to be consolidating after shutting down and laying off 90% of the Detroit, MI office. However, with this latest round of financing of $20 million and $200 million from a U.S. Department of Energy loan, the company hopes to be continue operations. Hopefully, operations will continue enough to not only build all the Roadster pre-orders but also the sexy BMW 5 series, sports-sedan Model S. recently announced. (Pictured above)

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