RE: Breaking News: Tesla in Financial Difficulties?

RE: Breaking News: Tesla in Financial Difficulties?

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Fiddlemesticks

14,264 posts

217 months

Wednesday 15th October 2008
quotequote all
I kept hearing it was funded by the guy who started paypal (i think) and he (was) worth over a $1B.

So much for lots of funding.....

morgrp

4,128 posts

199 months

Wednesday 15th October 2008
quotequote all
Hendry said:
Fotofrog said:
morgrp said:
I thought they made in hethel by Lotus?
I think *please correct if wrong* but the Lotus guys helped with the design etc but are not actually building the car itself..
I thought they were being built at Hethel too.

Either way, this doesn't sound like good news for Lotus either.
The reason I say is because I saw a few on the production lines at the lotus 60th anniversary thing few weeks ago

missing the VR6

2,323 posts

190 months

Wednesday 15th October 2008
quotequote all
tim milne said:
Zumbruk said:
tim milne said:
Expect to see a whole outpouring of glee here at the prospect of Tesla not succeeding–If it's not petrol, it must be bad.
This kind of comment is a favourite mantra of the anti-car brigade. And I for one don't GAS about what's under the bonnet. Just as long as it does the job.
Eh?
Don't think he bothered to read the rest of your post.

VladD

Original Poster:

7,859 posts

266 months

Wednesday 15th October 2008
quotequote all
For me the Tesla just didn't make sense. I have a BMW 750 that is very quiet. I use it for commuting up and down the M5. I like the fact that it is quiet. It's ideal for the purpose that I bought it for, refined quiet commuting.

I also have a Subaru Impreza. It is not quiet. I use it for driving fun at the weekends. I love the sound of the boxer engine and I love the performance.

Having an electric 7 series would make sense to me. Having an electric sports car does not. The missing sound would detract too much from the experience.

clarencegi77

100 posts

194 months

Wednesday 15th October 2008
quotequote all
morgrp said:
Hendry said:
Fotofrog said:
morgrp said:
I thought they made in hethel by Lotus?
I think *please correct if wrong* but the Lotus guys helped with the design etc but are not actually building the car itself..
I thought they were being built at Hethel too.

Either way, this doesn't sound like good news for Lotus either.
The reason I say is because I saw a few on the production lines at the lotus 60th anniversary thing few weeks ago
and if i'm not wrong Lotus only builds the chassis!
if only the tesla could be sold more cheaply, cause at that price seriously, any normal customer would just get a diesel or hybrid..

kevin ritson

3,423 posts

228 months

Wednesday 15th October 2008
quotequote all
Difficult to comment seeing as it's so far based on 'initial reports'. However what I have seen is the production line and there were a lot of Teslas on there in the summer - lots of names in the order book too, mostly of Hollywood A-listers but if they are injecting money into the concept then great.

My main concern is that Lotus aren't left out of pocket - they are being paid to make them, so if Tesla goes out of business without debts to Lotus, they've been paid to learn new technologies. I certainly hope that if Tesla can't, then someone else will get hold of the project and run with it. The environment is rapidly being forgotten in these turbulent times but this is a rich person's product right now and a lot of the potential buyers are immune to the current problems (assuming they have their money in the right accounts wink)

Edited by kevin ritson on Wednesday 15th October 14:39

Wilburo

391 posts

198 months

Wednesday 15th October 2008
quotequote all
This is a real shame - sure it didn't have Pistons, but showed that sexy cars had a future. A far more exciting green prospect than anything Lexus is going to make.

Regarding the price, I believe the idea was that within a few years the price would be down to 40k - you know, similar to an Exige or whatever.

As for the batteries, the car reviewed well in Evo, despite the added bulk. With time the batteries will become lighter, with more power and reliability.

odyssey2200

18,650 posts

210 months

Wednesday 15th October 2008
quotequote all
Seriously though guys

How many of us would have bought a car that costs £60,000 and had a limeted fuel range, could not be topped up in a filling station to continue your journey and had to be connected over night before it could be used again?

For just over half that you could but an Elise and drive around the world, as long as you couyld fund one of the Millions of petrol stations out there.

Kozy

3,169 posts

219 months

Wednesday 15th October 2008
quotequote all
odyssey2200 said:
Seriously though guys

How many of us would have bought a car that costs £60,000 and had a limeted fuel range, could not be topped up in a filling station to continue your journey and had to be connected over night before it could be used again?

For just over half that you could but an Elise and drive around the world, as long as you couyld fund one of the Millions of petrol stations out there.
It's obviously not being marketed at people like you though is it?

Mattt

16,661 posts

219 months

Wednesday 15th October 2008
quotequote all
I too was a sceptic, and I still have my doubts about the true environmental credentials of many of the new green technologies (e.g. hydrogen & wind turbines), however I had a long chat with one of the Tesla marketing guys down at Le Mans, he really seemed to know his stuff and seemed genuinely passionate about the car and future models once the current limitations are solved (mainy infrastructure and charge rates).

Petrolheads need these people, without them, there will be no 'fun' cars in the future only utilitarian transport.

VladD

Original Poster:

7,859 posts

266 months

Wednesday 15th October 2008
quotequote all
Kozy said:
odyssey2200 said:
Seriously though guys

How many of us would have bought a car that costs £60,000 and had a limeted fuel range, could not be topped up in a filling station to continue your journey and had to be connected over night before it could be used again?

For just over half that you could but an Elise and drive around the world, as long as you couyld fund one of the Millions of petrol stations out there.
It's obviously not being marketed at people like you though is it?
Nice car in your profile. Don't suppose you could design a decent looking boot lid for the BMW 6 series?

anonymous-user

55 months

Wednesday 15th October 2008
quotequote all
Fiddlemesticks said:
I kept hearing it was funded by the guy who started paypal (i think) and he (was) worth over a $1B.

So much for lots of funding.....
I dare say he may well have been worth over $1bn... last year.

In 2008 his overdraft's probably as big as mine!

neema_T

216 posts

207 months

Wednesday 15th October 2008
quotequote all
Article said:
with an economy equivalent to 135mpg.
How the hell did they work that one out? I mean you don't have gallons of electricity, unless they figured out how many miles they could get on a full charge, then compared that to a petrol tank in a car of a similar size (like, say, oh I don't know... An Elise perhaps?), but thats completely stupid, surely?

However I'm very keen to see how this turns out, I was kind of looking forward to seeing what comes of electric cars. This and the Lightning (I think it was in last month's Evo) had me quite interested, they might not have pistons but then that's not been a huge problem for Mazda (except for reliability and economy issues of course) (and yes I'm talking about the 20B and 13B wankels!).

Daisy Duke

1,510 posts

202 months

Wednesday 15th October 2008
quotequote all
VladD said:
For me the Tesla just didn't make sense. I have a BMW 750 that is very quiet. I use it for commuting up and down the M5. I like the fact that it is quiet. It's ideal for the purpose that I bought it for, refined quiet commuting.

I also have a Subaru Impreza. It is not quiet. I use it for driving fun at the weekends. I love the sound of the boxer engine and I love the performance.

Having an electric 7 series would make sense to me. Having an electric sports car does not. The missing sound would detract too much from the experience.
Quite agree. The chap I spoke to at the Motor Show couldn't see what the issue was or why a maximum range of 200 miles was also a problem. He couldn't understand that people often drive performance cars long distances (obviously hadn't heard of Le Mans) without wanting to stop for several hours to recharge, but then he didn't even realise that most households don't have access to three-phase electricity so all his calculations were rubbish. rolleyes At least the chap on the Lightning GT stand understood the issues, although in the current financial situation that may not succeed either.

There may well be a future for electric commuter vehicles, but the Tesla always struck me as a vanity project, particularly when there are other more exciting ways to drive fast whilst still saving the planet.

Mattt

16,661 posts

219 months

Wednesday 15th October 2008
quotequote all
Oh, Daisy YHM about something else while I remember!

Dracoro

8,685 posts

246 months

Wednesday 15th October 2008
quotequote all
Whay would anyone pay 3/4/5 times as much for an Elise powered by batteries?

They'd just buy the Elise and save a fortune.

If it had been, say, £5k more than an Elise then it may well have succeeded.

ymmv

4 posts

215 months

Wednesday 15th October 2008
quotequote all
Keep in mind they're not dead, they're just wounded ("merely a flesh wound ... I've had worse ...")

The rolling chassis is made in the UK. Tesla finishes it with a fall carbon fibre body kit and their own cabin trim.

The finished car being assembled in California, Tesla is working with some government "assistance" (I don't pretend to know the details, but I believe it would all be public information for the sleuth reporter.) And with the US dollar weak against the Euro, they were protecting themselves from adverse cost changes.

The layoffs have apparently been exaggerated, but there are certainly cut-backs (hopefully starting with the current CEO.)

There's no shortage of demand for the car at US$100K+ but that's not their revenue (building six or eight cars doesn't pay the bills for operating a company of 100-200 people for more than about a week...) They must have long term capital reserves to gear up to a viable production level and that's probably the balancing of the books they're trying to make happen now before they have to shutter the sales offices and production facilities they're just now getting open.

Anyone quibbling over the price just isn't their early adopter customer. I would pay it if I knew the car had anything but novelty resale value in a year or two when surely better cars will come along and this Tesla Roadster already looks like a nearly ten year old Lotus Elise.

kevin ritson

3,423 posts

228 months

Wednesday 15th October 2008
quotequote all
Dracoro said:
Whay would anyone pay 3/4/5 times as much for an Elise powered by batteries?

They'd just buy the Elise and save a fortune.

If it had been, say, £5k more than an Elise then it may well have succeeded.
Maybe they could fuel it using your thought process as you seem to have missed the point by more than 200 miles idea

xjs_man

18 posts

222 months

Wednesday 15th October 2008
quotequote all
neema_T said:
Article said:
with an economy equivalent to 135mpg.
How the hell did they work that one out?
I took it to mean that for the price of a gallon of petrol, it would do 135 miles?

Dubmaster77

172 posts

194 months

Wednesday 15th October 2008
quotequote all
odyssey2200 said:
Seriously though guys

How many of us would have bought a car that costs £60,000 and had a limeted fuel range, could not be topped up in a filling station to continue your journey and had to be connected over night before it could be used again?

For just over half that you could but an Elise and drive around the world, as long as you couyld fund one of the Millions of petrol stations out there.
Rememeber when the whole pllanet was in black and white.... Or was that just the televisions??
And when driving from London to Brighton was an Endurance race......