More pesky details roll out on the Tesla/Toyota deal. Not only does Toyota not have to build cars for Tesla, Tesla does not own any of the equipment in the factory (just the building). That means they will have to go to the well again for more cash once they bring the factory online. Also of note, the $50M in Tesla shares pledged by Toyota is only good if Telsa IPOs by December 31st of this year.
Maybe not such a grand deal after all...
Monday, May 31, 2010
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