And, the Journal adds, despite its celebrity cachet, Tesla still faces daunting competition from other auto makers who are also developing alternative-fuel vehicles.
Shares of Tesla closed trading down 2.1 percent on Friday at $27,65, with shares trading below their 50 -day moving average and well below the $32.54 close of September 17.
Tesla Motors Inc TSLA.O Chief Executive Elon Musk, on October 4, dismissed fears the electric carmaker was in financial trouble and said it was making an advance payment on the federal loan used to make its Model S sedan.
Tesla,in late September cut its full-year revenue forecast due to a slower-than-expected rollout of the Model S and said it was raising another $150 million through a share offering."
The supposedly “broke” California state government loves Tesla Motors
California Grants Tesla $10 Million To Build The Model X Electric SUV
10/10/2012
California regulators on Wednesday approved a $10 million grant to Tesla Motors to help manufacture its next electric car, the Model X sport utility vehicle.