"History is a wonderful thing, if only it was true"

Sunday, March 08, 2009

It's not just Detroit that's got troubles

Trying to sell $100,000+ cars with questionable technology looks like a bad bet.

Deathwatch: Why Tesla's Elon Musk Could Be the New Preston Tucker:

"In October, Valleywag reported that Tesla Motors was down to $9 million in the bank. Musk confirmed the company's cash position, and promised he would raise another $40 million in convertible debt from existing investors. But the fundraising is taking longer than planned. At a recent town hall meeting with customers, Musk reportedly told Tesla buyers that the company almost ran out of money in December, before it raised part of the round. Tesla is still seeking new funds."

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