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Technology Stocks : The Electric Car, or MPG "what me worry?"
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To: John Koligman who wrote (562)11/30/2008 9:49:38 PM
From: Eric  Read Replies (1) of 17522
 
Their long range plan was to come out with three different versions of the S sedan. I talked to a number of Tesla folks directly and they confirmed that to me and my friend the day we drove the Roadster back in late September here in Bellevue, Washington. The S Sedan factory was never intended to be funded by Elon or the VC folks. They put money into the Michigan operation to help speed up the design process on the S Sedan but when the DOE decided to delay all existing grants in the pipeline Tesla had no other option but to cut back it's expansion plan. They are still intending to break ground on the new factory late next year or early 2010. Time will tell.

The Roadster is fully funded and is now being delivered to customers with an ever faster production rate. In his private email to me Elon has told us that he expects the Roadster program to be cash flow positive sometime around the middle of next year. We just have to wait and see.

Frankly we should not bail out the "old Three". That is a rat hole. I did some back of the envelope calculations and estimated that they need to shutter 2/3rds of their operations and they still would not break even for at least two years.

Toyota and Honda are doing just fine here. Why can't the "old three" get their ___ together?

regards
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