Tesla holds customer town hall to explain price increases

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Tesla Motors held the first of a series of customer town hall meetings at its Menlo Park store on Tuesday to try and assuage anger over recently announced price increases. A couple of attendees have posted their thoughts about the meeting around the web. As usual, CEO Elon Musk was forthcoming with information, although it some cases it may actually raise more fears than calm them down. For example, when responding to a query about the price hike, Musk responded, "It was a really close call at the last round of investments, I can't shoulder the load of the company alone and I couldn't continue the company like that."

Musk also revealed that the company would be getting an investment from a "well respected company" in the next week or so. In the current environment, that may not have been the safest response if the deal has not yet closed. If something happens and it falls apart, the company could end up looking worse.

Musk blamed the new $3,000 price for the high-powered charging cable on the cost of making the current one and said a new, less expensive version is being developed. A 440V charger that would facilitate 45-minute charges is in the works, he said, possibly for 2010. Musk also announced that the Model S would be shown to customers and VIPs at an event at the Space-X headquarters in Los Angeles on March 5. Tesla is also working on drivetrain 2.0 with an eye on cost reduction.