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Tesla gets $40 million for sedan

tesla.jpgTesla, one of the most talked about eco-car companies and, for that matter, one that shares its name with an awful late 90s rock band, has hooked up with an additional funding round of $40 million.

(Greenbang went to visit Tesla in California last year – check out the film.)

The round was co-led by Valor Equity Partners and Elon Musk, entrepreneur and Chairman of Tesla Motors.

Tesla said the cash will be used to work on a producing a five door sports sedan, due out by 2010, as well as more work on the Tesla Roadster and getting a sales and service infrastructure up and running.

Elon Musk, Chairman of Tesla Motors, said: “The Roadster now in production is just the first of a series of models from Tesla, soon to be followed by our 4 door sports sedan. Eventually, Tesla Motors will offer a full line of electric vehicles, leading the way in the changeover from gasoline cars to an electric future.”

2 Comments

  • Christopher Combs
    Posted March 6, 2008 at 6:29 pm

    Tesla was neither awful nor a late-90s rock band.

  • Max
    Posted February 23, 2008 at 12:56 am

    I believe the name Tesla refers to the inventor, not the rock band.

    Just another example of historical ignorance in America.

    “After his demonstration of wireless communication (radio) in 1893 and after being the victor in the “War of Currents”, he was widely respected as America’s greatest electrical engineer.[4] Much of his early work pioneered modern electrical engineering and many of his discoveries were of groundbreaking importance. During this period, in the United States, Tesla’s fame rivaled that of any other inventor or scientist in history or popular culture,[5] but due to his eccentric personality and unbelievable and sometimes bizarre claims about possible scientific and technological developments, Tesla was ultimately ostracized and regarded as a “mad scientist”.[6][7] Never having put much focus on his finances, Tesla died impoverished at the age of 86.”

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