Tesla CEO will refund money if there's an "Armageddon scenario"
by Sebastian Blanco on Apr 6th 2009 at 11:51AM 
Click to enlarge the Tesla Roadster Sport
Here's Elon Musk, speaking in March (and just published in Car and Driver):
Even in the worst case of an Armageddon scenario, I'll personally refund people [their money] if need be.
While the U.S. federal government needs to step in and guarantee the warranties for GM and Chrysler vehicles should those companies enter bankruptcy, the loaded Musk (C&D calls him an "Internet zillionaire") is at least unofficially willing to give people interested in his company's electric cars one more reason to buy. No details are available yet about what, exactly, Musk means with all of this (a Tesla spokesperson declined to clarify), but this is slightly cool, no?
Another detail from the interview worth noting is that part of the money issues that became public earlier this year were caused by misrepresentations from a management team that has since left the company. The board thought the Roadster (which was selling for just over $90,000) cost $65,000 to make instead of the $140,000 it was estimated it was really costing the company to make the car a few years ago. Part of the solution was to reduce costs and to refine the car in order to offer the new Roadster Sport version at a higher price point.
[Source: Car and Driver via All Cars Electric]
Reader Comments (Page 1 of 1)
jharlan 1:14PM (4/06/2009)
There is not going to be an Armageddon scenario. The self serving bastards running our government might lose their pensions.
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Mark 2:08PM (4/06/2009)
Minor annoyance - please stop saying 'no?' in articles.
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Randy C. 2:24PM (4/06/2009)
I don't think Tesla is going to fold. Tesla is building the right cars for America. Cars that are going to help plug up the oil hole in the US economy.
Cars that the Detroit 3 refused to build and unilaterally decided America didn't need, so they destroyed them as fast as they could. Their only thought was liability, like GM's reason for destroying the EV1 "we were no longer making the parts to safely keep them on the road". It didn't matter if continuing to build petroleum powered cars they were building made America weaker with each one.
GM dropped its pants, bent over and left itself wide open for the competition. Now for the first time in decades a small car company has a chance to grow up to the Detroit 3 level. Also we are now looking at a Chinese electric car invasion. They are going to be cheaper, just as good as anything Detroit is going to come up with, and will be available sooner.
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paulwesterberg 2:49PM (4/06/2009)
This seems like a great way to insure yourself against total disaster scenarios that traditional insurance does not cover.
For instance if a huge comes from outer spaces and smashes into the earth and wipes out civilization as we know it you will still have 5 thousand dollars to your name. Or if the 4 horsemen of the Apocalypse ride into town bringing forth pestilence, war, famine and death you can still take comfort in knowing that they may come for your soul, but they will never be able to take your refundable deposit from you.
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Believer 3:20PM (4/06/2009)
GM's production capability + TESLA's innovations = the end of the U.S. recession
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