“As Tesla Motors, a maker of electric cars, burns through cash and misses production targets, it is turning to investors and taxpayers for extra financial help.
On Tuesday, Tesla announced plans to sell five million shares to raise cash. The federal government agreed earlier to waive some conditions of a $465 million loan, easing pressure on the company over the next couple of quarters. The moves raised questions about the long-term viability of the company.
In recent months, Tesla has been ramping up production of its main vehicle, a high-performance sedan called the Model S that goes from zero to 60 miles per hour in 4.4 seconds.” (New York Times)
Half a billion so they can build a $60k sports car? Does the “S” in “Model S” stand for “Solyndra”?
FEE Timely Classic
“Private Investment and Public ‘Investment’” by Adam B. Summers