Weather Tonight: 4°c Partly Cloudy Night Morning: 8°c Cloudy

Business

Electric carmaker feeling flat

Evening Standard   19 Dec 2008


All I want for Christmas is a brand-new $109,000 (£70,190) electric sports car. Specifically, I want one that can do 0-60 in 3.9 seconds, hit a top speed of 125 mph and run something like 250 miles between battery charges.

It's called the Tesla Roadster — a battery-driven bullet of a car that just this week had Jeremy Clarkson shouting “God Almighty!” as he handily outpaced a Lotus Elise in one during a Top Gear drag-racing stunt.

The Roadster is Silicon Valley-designed and assembled (although the car bodies are made in the UK), and right now there are only two places in the world you can buy one: a showroom in LA and another down the road from me here in Menlo Park.

Not that my Christmas present — should anyone be so generous — would be delivered any time soon. The wait for a Roadster is currently 12 months.

In the meantime, my local Tesla salesfolk won't even let me test one. Such is the demand for the vehicle, you need to make a $5,000 pre-purchase reservation just to get on the list to try one.

Too bad I'm not pals with George Clooney, Matt Damon or San Francisco Mayor Gavin Newsom, who are among lucky first 100 customers to have taken delivery of the car.

Still, all's not been smooth sailing for the company many here are touting as the future of the US car industry. Mechanical issues,
last-minute design changes, acrimony between the co-founders and, most recently, lay-offs and money woes have collectively worn away some of its sheen. Plans for both a $60,000 sedan and a more affordable mass-market family car have been delayed.

With the Detroit-based US carmakers asking for $15 billion to help them to avoid bankruptcy, the people at Tesla are now wondering loudly why they shouldn't be helped as well.

SCHADENFREUDE is greeting the news of Facebook's recently cancelled employee stock sale. The idea had been to let workers sell some shares before the company's IPO. But suddenly it's not happening. That puts more pressure on the firm to find a way to actually make money.

A LITERAL spectre of 1930s Depression has started buzzing over us here most days: a genuine Zeppelin — very like the one that visits London in the summer. Tourist flights run at a pricey $495 an hour, but what will really hurt them is their ban on wireless devices. No live blogging while in flight? Where's the fun
in that?

Reader views (0)

 Add your view

No comments have so far been submitted.


Add your comment

 

Terms and conditions Make text area bigger You have  characters left.

We welcome your opinions. This is a public forum. Libellous and abusive comments are not allowed. Please read our House Rules.

For information about privacy and cookies please read our Privacy Policy.


 

 

  • Relief for Sir Mervyn as inflation takes a tumble Osb and mervyn Bank of England Governor Sir Mervyn King has gained a major victory in his battle to bring down the spiralling cost of living as inflation...
  • Yell dives as print blow outstrips digital leap Yell Beleaguered Yellow Pages directories publisher Yell has seen its shares plunge as much as a quarter after a worse-than-expected slump in...
  • BHP and Rio bet on copper with mine expansion Rio Tinto The future is looking copper-coloured for BHP Billiton and Rio Tinto after the mining giants announced plans to invest $4.5 billion (£2.9...
  • Why saving may start to make sense again - just Piggy bank savings Long-suffering savers at last had some good news today when inflation fell below 4%, meaning there are now seven standard savings accounts...
  • City says timing wrong in Moody's UK rating threat Euro City economists have raised doubts over the timing of the threat by rating agency Moody's to slash the UK's AAA sovereign credit score,...
  • Hotel giant goes for Olympic gold as profits wow the City Intercontinental Hotels Hotelier InterContinental Hotels is looking to emerging markets and especially China to drive future growth
  • Bloomsbury takes a new passage to India Fashion book Publisher Bloomsbury is to set up a new business in India to take advantage of rapidly growing demand from the country's English-speaking...
  • Thai disaster floods Lloyd's with a bill for £1.4 billion Lloyd's of London Thailand's worst flooding in 50 years last October will cost the Lloyd's of London insurance market $2.2 billion (£1.4 billion), it has...
  • Bank of Japan increases stimulus to boost growth Japan Bank of Japan has added 10 trillion yen (£83 billion) to its 20 trillion yen pool of funds set aside for asset purchases in a surprise move
  • Brammer sees profits jump Box of tricks: DIY tools can be expensive to buy Industrial services group Brammer has posted a 41% jump in full-year pretax profit on strong demand
  •  
    Market Roundup
    TUESDAY UPDATE

    Valentine's massacre as City dumps Hampson

    No one likes getting rejected on Valentine's Day

    More