During the electoral debate on Wednesday, most people were focusing on what each candidate were going to do about the struggling economy and healthcare, none more than electric car company, Tesla Motors, however.
Tesla Motors have been struggling to make a dent in the US market for years now, and on Wednesday, Presidential candidate, Mitt Romney, took at shot at the company on the nationally broadcasted debate. Romney constantly refers to Tesla Motors and Silicon Valley solar power start up, Solyndra, as failures that the Obama government have been supporting.
These statements follow the recent attempt by Tesla to raise an additional $150 million for the company. Many see this move as another downside for the company. However, Tesla CEO, Elon Musk, released a statement saying that the tactic was just done in risk reduction. The only time they would use the money would be in case of an emergency, such as an earthquake or flood affecting the supply chain.
Elon furthermore states that the company is expected to be profitable by the end of next month. However, Tesla was very confident on making their claim of 500 vehicles last quarter, but also missing that target by over 100 vehicles. Many in the financial world are criticizing Elon’s remarks, claiming that stating the company is raising money in hopes of risk reduction is simply for PR. At the same time, Romney is under fire for making such claims, in attempts to talk down the Obama government.
Whether the company is a “loser” as Romney claims, or not, is up to the individual to decide.
(sources: Mashable, Tesla Blog)