And, in related news, Obama forces GM's CEO to step down in advance of federal auto-industry bailout for Detroit
Can we put one and one together here please?...
Tesla Motors revealed its all-electric Model S sedan last week in Los Angeles. At half the price of its Roadster model, which was $109,000, the Model S will be priced at $49,900 after tax credits ($57,400 before such credits). "After factoring in savings on gas," Tesla points out, that's "comparable to a $35,000 Ford sedan," the New York Times reports. A blog item from the Times describes the Model S as "sleek, sporty and sexy."
Tesla hopes the price tag will come down to "less than $30,000," as the price "will presumably go down as the technology improves." They plan the manufactured version to get 300 miles to a single charge, with a 45-minute recharge time.
While the company has raised millions from private investors, they need still more to be able to set up a production plant, which they plan to do in Southern California. But, for the moment, they are waiting on federal loan programs, as the credit market has otherwise locked up, according to the Times.
In the meantime, Detroit's big three automakers are also asking for federal funds and, in advance of President Obama's announcement of plans for the auto-industry, he has reportedly demanded that GM's CEO step down. So let's add one plus one here...
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