Latest on Tesla

Detroit: Tesla Motors Does *Not* Need 

Government Funding To Survive, CEO 

Declares. As much as Detroit needs a $34 

billion government bailout to keep the 

lights on and continue building gas-guzzling

pick-ups, minivans and SUVs, Silicon 

Valley startup Tesla Motors does not 

require Federal money to survive.

The $40 million the San Carlos, Calif.

company secured last month is twice 

what it needs to reach profitability next 

year, said CEO Elon Musk this week.

However, the 300-person company is 

still going after a $450 million government 

loan to accelerate the production of its 

upcoming model “S” 5-passenger all 

electric sedan and its power-train factory.

“The sedan program is $350 million. 

This is tiny compare to what Detroit is 

asking. It’s like a month interest,” 

said Musk, “Compare (it) to $34 billion. 

We’re like less than 1%. It’s like ridiculous. 

We’re asking for less than 1% what Detroit 

is asking for…It’s quite reasonable to me.” 

Musk said he would use another $100

million to build the power-train factory 

that will supply other car companies.