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
Elon Musk says he's broke
Tesla chieftain Elon Musk may not qualify for a loan for his own expensive Roadster according to VentureBeat. Repeated cash infusion into his fledgling car company and a nasty divorce have put his finances on the skids.
Friday, May 28, 2010
Coda Makes Plans for Battery Plant in Ohio, Pending Federal Loan Approval
First A123 announces jobs for the struggling state of Michigan and now CA start up Coda is looking to add them in Ohio. Coda (with backing from Chinese battery company Lishen Power Battery) will run the plant via a joint venture they have to develop electric car batteries. From Wheels @ NY Times.
Thursday, May 27, 2010
Zipcar Gets $70M for Fleet Expansion
Zip gets dollars to grow their fleet and their fast growing 400K customer base.
Summary Box: New money for electric cars
From the AP...
GOING ELECTRIC: The Senate and House are proposing big grants for cities to install charging stations and other infrastructure needed to support electric cars. New tax credits would also be extended to some electric car buyers.
BIG GOAL: Lawmakers say the bills should help add 700,000 new electric vehicles to the road in the next few years.
THE BIG REASON: Electric vehicles are expected to hit car showrooms in big numbers starting this fall. But few cities have public places for them to recharge, potentially limiting how widely they can be used.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
GOING ELECTRIC: The Senate and House are proposing big grants for cities to install charging stations and other infrastructure needed to support electric cars. New tax credits would also be extended to some electric car buyers.
BIG GOAL: Lawmakers say the bills should help add 700,000 new electric vehicles to the road in the next few years.
THE BIG REASON: Electric vehicles are expected to hit car showrooms in big numbers starting this fall. But few cities have public places for them to recharge, potentially limiting how widely they can be used.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The Emergence of the Electric Bike
Justin Timberlake (yes that one) is attempting to bring SexyBack to the e-bike space.
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