If investors pass up the opportunity, however, why should taxpayers fork over the capital that Tesla needs? The Roadster is not much more than a functioning concept car that sells for $109,000. The company is requesting $400 million in low-interest federal loans as part of the $25 billion loan package for the auto industry passed by Congress last year. The program is intended to encourage automakers to improve fuel efficiency, but should it be used for a purpose like this, as the 2008 Bailout of Very, Very High-Net-Worth Individuals Who Invested in Tesla Motors Act? Can you conceive any way that federal dollars could be put at greater risk — and for no equity in return, keep in mind — to benefit fewer people? ... Last week, I visited the Tesla showroom in Menlo Park, Calif., and took the Roadster out on the highway. As I headed back to the showroom and waited at red lights, ready to hit the accelerator and fly, I realized that I was experiencing a guilty pleasure derived not just from the speed available at my touch but also from temporarily possessing something that shouted to the world its exclusiveness.
Create a Core77 Account
Already have an account? Sign In
By creating a Core77 account you confirm that you accept the Terms of Use
Please enter your email and we will send an email to reset your password.
Comments
Paraphrased:
. . . bailout not for roadster, for a cheaper version
. . . bailout = a loan (in a bankruptcy loans are paid before equity)
. . . roadster functions *very* well
. . . American designed, owned and built
. . . [sorry about the weird formatting, i can't figure this out]