by David Heyerman on December 21, 2008

- GM – There’s been tons of news lately regarding GM. Most notably, the federal government just approved $17.4 billion in loans to the Detroit giant failure. Along with Chrysler, GM will receive $13.4 billion with $4 billion available in February. Immediate repayment to the government will be required if profitability isn’t shown by March 31st, 2009. In other, more cleantech related news, GM has put a hold on their $349 million dollar plant dedicated to production of the Chevy Volt. Even with this delay, GM vows that they will still meet the 2010 launch date.
- Chrysler – Along for the bailout ride, Chrysler seems to be really hurting. They’ve now idled all manufacturing operations for a month at the least. This is far from the company who back in the summer announced a fleet of plug-in hybrids to be brought to the market by 2010.
- Honda – Just signed a deal with GS Yuasa, a Japanese battery maker. The joint venture will go towards developing lithium-ion batteries for Honda’s hybrids. GS Yuasa will hold 51% of the $170 million deal. In other exciting news, CEO, Takeo Fukui just announced that Honda will have a fully electric motorcycles to the market within 2 years.
- Mercedes-Benz – Mercedes seems to be testing out their options with their recent Concept blueZERO annoucment. The high-end auto manufacturer will be unveiling 3 different models at the Detroit Auto Show in January; an EV, a gas-driven powergenerator/EV like the Volt, as well as a fuell cell vehicle, like the Honda FCX Clarity.
- Tesla - An interesting piece of information comes from the mouth of that dude Oprah leaned on, who also happened to buy the 100th production roadster. Sam Perry, president of startup consultancy Ascendance Ventures, claims that after conversations with CEO of Tesla, Elon Musk, the Model S in still on track for an early 2009 reveal as well as a “budget” $30,000 Tesla announcement on the way. Hmm.
- Renault-Nissan – The car company just partnered with Energie Quest Suisse (EQS) to develop an EV network for Switzerland. The plan, like other car network developers is to create a grid of recharging stations throughout the country.
- Bentley – The super lux car brand is going eco. They are expected to launch their first production ethanol model at the Geneva Motor Show in spring of 2009.
by David Heyerman on December 11, 2008

- It’s no breaking news to hear that Tesla is a little strapped for cash. Maybe it’s the recent GM bailout that’s softened my senses a little, but I’m not in the least surprised to hear that CEO, Elon Musk, is asking for a bailout from the government himself.
- Musk recently told the Detroit Press that unless he gets a $350 million dollar loan from the government that the Tesla Model S will be pushed back (surprise, surprise) and their new San Jose plant will not open.
- This comes in right after the relatively average milestone of delivering their 100th production roadster. Speaking of disappointing, remember when they made a big deal about the recipient of that 100th car a few days ago, you wanna know who it was? ….This Guy:

- Musk explained that without the bailout, production of the model S will have to ride out the current economic conditions, possibly delaying it 1-2 years. This is a serious problem considering the roadster retails at $109,000, with the Model S shooting for a $55-60,000 price range. The relatively low sum of $350 million mixed with the long term benefit of a sustaintable automotive company like Tesla might just be too good of a proposition for Obama to turn down.
- Think about it, we literally just bailed out GM for near 43 times that amount.
by Jason Wilk on November 19, 2008

- Tesla, the joke of the electric car world, has requested $400 million
in low or no-interest loans to fund two upcoming projects.
- Speculation is the money would go towards their $70K sedan and their lower priced model.
- None of the automakers should be bailed out. Their dysfunctional management that has been steering all of the American auto industry into the gutter for the last 20 years won’t be helped out by some extra cash. Even if they do get it, who says they won’t spend it on distributing lousy dividends like the financial houses are doing? Elon Musk is no exception to this, his product should be off and running by now. The Tesla store on Santa Monica Blvd. has cobb webs growing on it.
PeHUB
by David Heyerman on November 10, 2008

- Tesla CEO, Elon Musk, announced on Friday at the Web 2.0 Conference that they’d be taking in a little extra cash on top of the $40 million internal round announced early last week.
- Where is that money coming from you might ask? From Elon himself.
- Musk said that he would likely be contributing around half the previous amount, bringing his total personal investment to around $75 million.
- Tesla has raised a total of $185 million.
Earth2Tech, Web 2.0 Summit
by Jason Wilk on November 3, 2008

- Tesla Motors, after laying off 18 percent of its workforce two weeks ago, founder Elon Musk has raised a $40 million convertible note (as in debt).
- Investors have now sunk $186 million into the company and were not willing to ante up for equity.
- Of the 1,200 vehicles Tesla has supposedly made, they have only delivered 50.
- Until today, Tesla only had $9M left in the bank. Not much working capital for a car manufacturer.
- In further news, Tesla’s recently placed suit against Henry Fisker of Fisker Automotive has been ruled in favor of Fisker.
- Will this debt round get them out of their rut or will this be the nail in the coffin?
TC, E2T, ABG