Financial Times FT.com

Tesla seeks help for new car push

By John Reed in London and Richard Waters in San Francisco

Published: March 26 2009 20:08 | Last updated: March 26 2009 20:08

Tesla Motors, the ambitious Silicon Valley electric car start-up, may resort to taking a big investment from a major automobile manufacturer or a sovereign wealth fund as it tries to end the delays that have dogged its attempt to create a mass-market electric vehicle, the company’s founder said on Friday.

However, Elon Musk, who made his first fortune as a co-founder of PayPal, insisted that even if the credit crunch led to further delays in the short term, he was confident that the company would eventually be able to go ahead.

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