I love the idea of the Tesla, a high performance electric car that is fun to drive and good to look at. I wonder if it ends being the next Segway, a promised revolutionary product that ends up being underwhelming in reality. I drive by their new showroom in Menlo Park all the time and there just doesn’t appear to be a lot of stuff going on there on a typical day. With tax and licensing they are selling a $125k car, which is a lot of money in any economy, and when the novelty wears off I wonder where they go. Maybe instead of comparing it to the Segway, a more appropriate comparison is the DeLorean.
Chairman and Chief Executive Elon Musk said Friday that Tesla would cut as many as 87 staff and full-time contract workers, or 24% of the 363-person total. The company also will attempt to raise $25 million, rather than the $100 million it had been seeking.