Financial problems: will tesla get its act together??

Financial problems: will tesla get its act together??

San carlos (california), 31. October – california-based electric car maker tesla motors is in desperate need of a cash infusion to continue production of its first vehicle, the "tesla roadster" even though potential buyers had to pre-finance some of the cars and pay deposits of between 5,000 and 60 percent.000 us dollars. Tesla ceo elon musk yesterday (thursday) confirmed media reports that the start-up currently has only $9 million in cash on hand. Not least as a result of the crisis on the global financial markets, an investment round that was supposed to bring tesla motors 100 million dollars in fresh money recently failed.

20 million missing
"we could not raise the 100 million", admits musk, "and we need money for a positive cash flow." according to musk, tesla currently needs $20 million, which will be provided by active investors in the coming week. According to him, however, tesla customers need not worry about their deposits: "i personally stand behind the deposits and delivery of the vehicles", the tesla boss and co-founder of paypal, who became a multi-millionaire when he sold the online payment service to ebay in 2002, made this clear.

Technical problems
musk took over the tesla helm from ze’ev drori in mid-october and, as part of his first official acts, announced the departure of about 20 percent of tesla’s 360 employees. Among other things, the company headquarters in detroit will be closed. Musk has also injected millions more from his personal fortune into the company, which has raised nearly $150 million in venture capital since its founding in 2003. However, technical problems – especially in power transmission – repeatedly threw the company’s production schedule into disarray.

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