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Tesla not immune from credit crunch

Tesla’s planned S sedan that we wrote about last month looks like it might be delayed 6 months. The horrible economic downturn is causing Tesla to go into capital preservation mode which includes possible layoffs and delays. The company was relying taxpayer backed loans to cover most of the development costs, and with those loans rapidly drying up, they may have to go to plan B for the “S” sedan.

Tesla still expects to make 15,000 sedans a year by the end of 2011. The US Dept. of Energy has approved a loan of $150 billion to Tesla which appears to still be on track. The 5 passenger sedan is expected to have a $60,000 price tag, much lower than the $110,000 Tesla Roadster.

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Posted in Electric, Tesla on 10-16-08
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2008-10-27 10:55:12

[...] Tesla not immune from credit crunch [...]

 
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