Bob Lutz will appear on Letterman next week to refute Volt claims
Clarification: When I say most Model S development is on hold, I mean most, not all. When I spoke with CEO Elon Musk in January he acknowledged that spending on Model S had been cut from 30 percent of Tesla's resources to only 10 percent. Before leaving the company, last former SVP Darryl Siry told us that essentially all work other powertrain development had come to halt. Some work is ongoing since they did finish the show car, but the bulk of it depends on raising cash. Meanwhile GM tells us that the Volt program is essentially the only one at the company that has not seen any significant cuts.
[Source: General Motors, Source Photo by Bryan Bedder/Getty]
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