Tesla Motors receives cash injection

Tesla Motors receives cash injection

Tesla Roadster f

Tesla Motors, the all-electric automaker has just secured $40 million ($67.4m NZ) in financing to move forward with boosting up production of its battery-powered sports car, the Tesla Roadster.

Last month, Tesla was unable to secure a $100 million ($168m NZ) investment and was forced to cut nearly 25% of its work force. The failure to get funding also slowed work on its second model, an all-electric sedan known as the “Model S.” The San Carlos.

The California-based automaker has more than 1,200 orders for the $109,000 ($183,000 NZ) roadster, but has delivered just over 50 to date. With early transmission problems solved and plenty of cash on hand, the high-profile automaker seems to have finally found itself in a position to push forward.

Tesla Roadster f

Tesla Motors, the all-electric automaker has just secured $40 million ($67.4m NZ) in financing to move forward with boosting up production of its battery-powered sports car, the Tesla Roadster.

Last month, Tesla was unable to secure a $100 million ($168m NZ) investment and was forced to cut nearly 25% of its work force. The failure to get funding also slowed work on its second model, an all-electric sedan known as the “Model S.” The San Carlos.

The California-based automaker has more than 1,200 orders for the $109,000 ($183,000 NZ) roadster, but has delivered just over 50 to date. With early transmission problems solved and plenty of cash on hand, the high-profile automaker seems to have finally found itself in a position to push forward.

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