Electric car maker Tesla Motors has received a lot of attention in the press over the past year when the automaker launched its magnificent Tesla Roadster, an all-electric sports car that can go from zero to sixty kilometers per hour in just 3.5 seconds. . After numerous delays, a transmission swap, and management changes, the Roadster finally went into production earlier this year.

Now the California-based automaker finds itself struggling to survive, with rapidly dwindling bookings putting pressure on the company like never before. Yes, with just $9 million in the bank, Tesla is struggling to survive even as demand for its $109,000 far exceeds supply.

Even rich people hold on to their money tightly.

Will Tesla be able to weather its current financial crisis? That remains to be seen given the worldwide slump in car sales. Even wealthy individuals, the kind of drivers who can afford the Tesla Roadster, are carefully considering their purchases, especially in light of the recent financial bloodbath on Wall Street that sent stock prices tumbling and wrecked Americans’ wallets. from all financial strata.

For its part, Tesla is reacting in various ways. Elon Musk, the CEO of the company, is investing ten to twenty million dollars of his own money in the company and has plans to lay off up to 20% of the company’s workforce. In addition, he is closing a satellite office in Michigan, moves the company hopes will buy him some time while it seeks additional financial backing.

Production delays hit Tesla’s results

According to Forbes magazine, Tesla has raised $147 million from investors so far, with about $55 million coming from Musk, the automaker’s founder. Delays in shipping the Roadster have hurt the company’s financial picture, as only fifty cars have been shipped so far. Production has finally ramped up with Tesla saying up to ten Roadsters are now being assembled a week. A small amount, but then we are talking about a small operation.

If Tesla can hold out for a few more months, additional help in the form of grants from the US Department of Energy and aid from the State of California should start to kick in. Also, with plans to build a midsize electric car in a new California factory in the next few years, Tesla’s franchise expansion should attract more investors to what many expect will be the largest small electric carmaker in USA