Wednesday, November 19, 2008

Tesla Has It's Own Begging Bowl

Tesla is hitting up the Feds for bailout money too. Yeah, they claim it's to build new models and that tapping the Department of Energy isn't the same as milking money from the Treasury, but quite frankly that's all BS.

A) they lost bucket-loads of money on the Roadster, a model line you can be sure will never show a profit;

B) the plan to build a mid-size saloon, from scratch, for less than half the price of the Roadster, especially when combined with the pretence that Tesla will somehow defeat the combined forces of BMW, Lexus and others, is absolutely ludicrous;

C) the management has been an unmitigated disaster, lurching from one set of hands on the tiller to the next, with Musk now stepping back in to make it his personal plaything, something that's been cited before as a major reason for Teslas series of problems.

Just goes to show that Silicon Valley can still learn a thing or two from the good old boys in Corporate America. Tesla Hearts GM.

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