Despite a backlog of unfilled orders and lots of good press for its electric cars, upstart Tesla Motors is finding that reaching full production is complex and costly. Late last week, the Silicon Valley company announced cutbacks to conserve cash.
Tesla is closing its recently opened engineering center in suburban Detroit and laying off an undisclosed number of its 200 U.S. workers. The company is delaying development of a new electric sedan as it consolidates operations at its San Carlos, Calif., headquarters.
Production of the Tesla Roadster, which is based on a Lotus sports car, started in March. Fewer … Read more