Tesla Motors has confirmed to Autocar that it is engaged in a ‘headcount reduction’ intended to secure its future, following on from yesterday’s news that it was about to make substantial redundancies.
The fledgling electric car maker is feeling the squeeze of the credit crunch, and confirmed that the Model S, a five-seater electric saloon planned for 2011, has been postponed for at least six months.
Elon Musk - the founder of PayPal and one of Tesla’s key investors – has taken a tighter hold of the company’s reins. Former CEO Ze’ev Drori has been effectively demoted to the position of vice-chairman, and Musk will become CEO, chairman and product chief.
In a statement, Musk said Tesla must “focus on its two revenue-producing business lines - the Roadster and powertrain sales to other car companies”.
Musk added that Tesla should be “cash-flow positive” within six to nine months, and pointed out that the Lotus Elise-based Tesla Roadster has a large and growing order book, despite its $109,000 price.