Green supercar firm hits trouble
17 October 2008
- 125mph electric car
- Failed to secure investment
- Mass-market vehicle on hold
Tesla Motors, the company that supplies ‘green’ supercars to the stars, has hits financial problems.
The manufacturer is famous for supplying its high-performance electric cars to A-list customers, including George Clooney and Arnold Schwarzenegger.
The Californian-based manufacturer is scaling back its operation, which includes a £63,000, electric-powered convertible that’s capable of 125mph.
The failure to secure investment and the worsening global financial crisis is blamed for the company’s decision.
According to Tesla’s website, the firm will be shuffling its management team and making job cuts from its 250 staff.
Elon Musk, the company's new chief executive, said that the development and production of Tesla's flagship model, the £92,000 Roadster sports car, would continue. However, a low-cost, mass-market version could be affected.
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