Tesla Birth Watch 35: Redefining Chutzpah

Tesla Motors has apparently run out of toilet paper again. Valleywag reports that they're off in search of another $250m to [s]keep the lights on[/s] fund development of the "Whitestar" electric sedan. That's right, if you have a quarter of a billion dollars burning a hole in your pocket, you too can invest in a company that has produced exactly one working "production" car (delivered to the company's CEO) in five years, in exchange for over $145m and Federal regulatory exemptions. I'm not an expert, but this strikes me as a particularly optimistic investment. Oh, and Tesla also wants a guaranteed loan from the Department of Energy to build a factory for these new electric sedans. To quote President Bush, "Fool me once, shame on you. Fool me – you can't fool me again." [NB: I know we're a little late to this story, but that's kind of appropriate don't you think? And here's an old video for potential investors that shows the critical coverage given Tesla by our blogging pals. Driving range of 250 miles. Those were the days…]

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  • on Feb 19, 2008
    RichardD : February 19th, 2008 at 12:35 pm The single Tesla car exists only because it was made by a real company, Lotus. History buffs will be familiar with a similar venture to make a “dream car” work with massive government subsidies and Lotus design: the DeLorean. There were a lot more Deloreans produced than Teslas.

  • Lewissalem Lewissalem on Feb 19, 2008

    Solar Panels? Energy Positive? Musk, lets work on delivering what was promised to investors the first round.

  • Gardiner Westbound Gardiner Westbound on Feb 19, 2008

    The additional $250-million is for a really long extension cord.

  • Minion444 Minion444 on Feb 19, 2008

    Jason Calacanis (spelling) should be able to help out. I just listened to the latest Twit epsiode, where he mentioned Tesla by name maybe 50+ times. He believes he will take delivery in the 1st quarter of 09' I'm waiting...............