Financial Woes Plague Electric c

Electric power car maker Tesla Motors has been getting a lot of media over the past year as the automaker launched its gorgeous Tesla Roadster, an all-electric sports model that can go by zero to sixty mph in just 3. 5 just a few seconds. After numerous delays, a transmission swap out, and managing changes, the Roadster finally went into production prior this year.

Now, the California based automaker is locating itself struggling to survive, with fast dwindling reserves positioning pressure on the company like nothing else to date. Yes, having just $9 million left in the bank, Tesla is definitely struggling to survive even as demand for its $109, 000 car or truck far outstrips supply.

Even Wealthy People Are Holding Onto Their cash Tightly

Will Tesla be able to weather its current financial doom and gloom? That remains to be seen given the worldwide slump in auto sales. Even wealthy people — the type of drivers who can afford the Tesla Roadster — are carefully thinking of their purchases especially in light of the recent financial bloodbath on Wall Street that sent stock prices plummeting in addition to tore through the portfolios of Americans of every financial stripe.

Due to the part, Tesla is reacting in several different ways. Elon Spray, the CEO of the company, is pouring ten to help twenty million dollars of his own money into the corporation and has plans to lay off as many as 20% with the company’s workforce. In addition , a satellite office in The state of michigan is being closed, moves that the company hopes will obtain it some time as it searches for additional financial backing.

Production Interruptions holdups hindrances impediments Hammer Tesla’s Bottom Line

According to Forbes magazine, Tesla features raised $147 million from investors so far, with some $55 million coming from Musk, the automaker’s founder. Delays within shipping the Roadster have hurt the company’s financial graphic as only fifty cars have been shipped thus far. The development has finally been increased with Tesla saying this as many as ten Roadsters per week are now being assembled. A tiny total, but then we’re talking about a minuscule operation. get 2016 tesla model s used cars click above the link

If Tesla can hang on for a few more months, additional help in the form of grants from the US Department of Energy and help from the Status of California should begin to kick in. Moreover, with options to build a midsize electric car at a new Colorado factory within the next few years, the expanding Tesla franchise really should attract additional investors to what many hope will be the major little electric car maker in the USA.