Has the Electric Car's Time Finally Come?
When Tesla Motors Inc. CEO Elon Musk announced at the Detroit Auto Show he had enough U. S. federal funding lined up to pay for "the debut of the affordable electric car," few of those in attendance believed the boast.
Two weeks later, Musk's timing looks perfect and his claim of up to $700 million US in funding more plausible. This could be Tesla's year, in light of U. S. President Barack Obama's announcement Monday that he will start a war on climate change that includes tighter limits on vehicle emissions, despite Detroit's pleas, and the forced weaning of U. S. consumers from their gasoline dependency.
Obama's announcement could make Tesla the right company at the right time.
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