According to Fox News, the US Department of Energy threw away nearly $1 billion in loans to Fisker Automotive and Tesla Motors—two Calif.-based auto startups trying to produce the next generation of American-made energy-efficient cars. On several of its shows, including America's Newsroom and Your World, Fox News criticized the loans because Fisker and Tesla currently produce expensive cars that are made in Europe.
Tesla Motors CEO Elon Musk is drawing fire over his request for a $350 million loan from the federal government. Although the company receives widespread support for its leadership role in the burgeoning electric car industry, critics argue that Tesla's request to use taxpayer money to help a company making cars for wealthy patrons is elitist and wrong.
We’re probably showing our age when we remember Fernwood 2 Night, the 1977 mock talk-show spinoff of classic 1970s comedy series Mary Hartman, Mary Hartman. But it wasn’t until we found one of the old clips that we realized: Good lord, the show’s writers anticipated the Tesla Roadster battery by at least 30 years!
Last week, Tesla Motor Company acknowledged that it is losing money, struggling financially, laying off employees, and closing its Detroit-area office. Could the Tesla dream—the creation of an electric car company in the mold of a Silicon Valley start-up—be falling apart? Elon Musk, the company’s primary funder and now its CEO is unwilling to let that happen. No matter the cost.
In a surprising switch, Tesla Motors has announced it will build its next electric car model in its home state of California, lured by millions of dollars in state incentives. As it moves toward production of Model S, the start-up carmaker—a darling of the green tech movement—will need to deliver on its promises, something that it has found difficult during its short existence.
The buzz around electric sports-car-maker Tesla Motors is sparking something akin to what happened in California 150 years ago—this time the rush is toward plug-in electric and hybrid vehicles. Undaunted by Tesla’s difficulties in delivering on early promises, small companies are charging forward with a “if they can build a car, why not us” attitude. Many claim that 2010 will be their year.
Tesla Motors may be the darling of the "take no prisoners" electric vehicle world, but the company may break from its roots with a gas-electric hybrid powertrain for its upcoming Whitestar sedan.
Tesla Motors side-stepped disaster by winning a federal waiver allowing its all-electric Roadster to be produced without advanced occupant-sensing airbags. If the waiver had not been granted, the carmaker might have been forced out of business.
