I have been following the Tesla electric car every since it was shown by the builders back in 2006, at Monterey, CA. The introduction of the electric roadster caused some excitement and also attracted the likes of Gov. Arnie of movie fame as well as the founders of Google. Pre orders were taken and the pricey vehicle of $100k + seemed like it was well on its way to production. The company even opened a showroom to show off the electric wonder.
Another model was also introduced called the Tesla S with a lower price tag of $60k + and was hopefully going to add to the orders. But it now seems that a very bad economy and Tesla layoffs may have doomed the vehicle for now. According to the article it states that:
Tesla is trying to raise $100 million to add to the $146 million it has already raised. Backers include Tesla is also waiting for a low-interest loan from the Energy Department, which the company cannot use until it passes an environmental review. Tesla will focus its efforts on making the Roadster, which has a one-year waiting list. It will also increase power-train sales to other car companies, a business that Mr. Musk said was profitable.
This makes one wonder how GM is coming with its electric vehicle called the Volt and whether or not GM will have the funds to produce the car. The economic downturn, which most of us know is really a recession, is most likely to kick our economy right in the butt.
GM has already received $25 Billion from us taxpayers. But that amount may not be enough to cover the cost of the new car. Only time will tell.