The Electric Car, or MPG "what me worry?" Message Board

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Technology Stocks : The Electric Car, or MPG "what me worry?"

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To: Glenn Petersen who wrote (558)	11/30/2008 7:28:57 PM
From: John Koligman	Read Replies (1) of 17533

Glenn, I was going to post that article but I see you beat me to it <ggg>. Tesla got slammed pretty strongly by the Times today, and with good reason. I've been posting here for some time now that throwing money at this company based on past automotive history is really similar to throwing money down a rathole. Without billions of investment, they can't even be a boutique manufacturer. Notice how Tesla now says 'development of their new sedan cannot move forward without Federal funds'. It's because they damn well know it costs billions to fund development of an entirely new car, and a bunch more to build the factory to assemble it. Any payback for all that investment would be years away, and in this credit environment I'm not surprised they have the 'tin cup' out. Only the major manufacturers have the cash and ability to make electric a mass market item. These guys never will. Regards, John PS - At least 'Elon' is getting more realistic about the funds required. In the past they have tried to raise 100 million and failed, now he says they need 400 million to move forward. Even that kind of cash is nothing more than a down payment on development of a new car...

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