Tesla Motors needs a bailout, too

Wednesday, December 10th, 2008

Matt is currently working as a writer for TechCrunch. Matt Burns is a family man first and attempts to be a writer second. Born and raised in the heart of the automotive world, only cars eclipse his love of gadgets. He previously wrote for Engadget and EngadgetHD before moving into the party house that is TechCrunch. He learned the retail... → Learn More

Tesla Motors is discovering that it cannot build cars on hopes and dreams alone; real capital is required, too. The forward-thinking company is stating that they will not be able to produce their 4-door, Model S electric car without a $350 million dollar US government loan. Remember, the founder stated a while ago that all the pre-orders for the Roadster will be fulfilled, but without this new loan, the company will have to wait until the credit markets unfreeze to build the Model S’s manufacturing facility. It’s too bad that the credit crisis hit when vehicle technology almost reached a new stage in their evolution.

Sponsored Ads

blog comments powered by Disqus

Sponsored Ads

Sponsored Ads