- Dec 10, 2008
Tesla needs government loans to produce Model S on time
Like the $15 billion that the Detroit 3 are still hoping to get within the next few days, Tesla's $650 million would come from the $25 billion investment in green technology that Congress has already approved for American automakers. Without this infusion of capital, Tesla Motors' CEO Elon Musk claims that its battery-powered sedan, which is expected to bow sometime next year on conceptual form, will be delayed by a few years until the economy recovers and more capital investment can be raised on its own.
[Sources: Detroit Free Press, Bloomberg, Photo by Vince Bucci/Getty]