Only the Rich Can Afford It. Should Taxpayers Back It? (an electric car costing $109,000)

New York Times ^ | November 28, 2008 | Randall Stross

[reaganaut1]

THE Tesla Roadster is an electric car that goes fast, looks sensational and excites envy. The seductive appearance, however, obscures some inconvenient truths: its all-electric technology remains woefully immature and don’t-even-ask expensive. If enough billionaires step forward to inject additional capital to keep the doors of its manufacturer, Tesla Motors, open, I’m happy for all parties.

If investors pass up the opportunity, however, why should taxpayers fork over the capital that Tesla needs? The Roadster is not much more than a functioning concept car that sells for $109,000. The company is requesting $400 million in low-interest federal loans as part of the $25 billion loan package for the auto industry passed by Congress last year.

The program is intended to encourage automakers to improve fuel efficiency, but should it be used for a purpose like this, as the 2008 Bailout of Very, Very High-Net-Worth Individuals Who Invested in Tesla Motors Act? Can you conceive any way that federal dollars could be put at greater risk — and for no equity in return, keep in mind — to benefit fewer people?

[reaganaut1]

No, the taxpayers should not back it. The $400 million in low-interest federal "loans" could be dwarfed by the billions of federal money to be thrown at the Big Three automakers to keep them (and especially, the UAW) in business making cars favored by Barack Obama, Henry Waxman, and not many other people.

[Sharrukin]

No. If the car was worth making and could turn a profit people would be beating a path to their door.

[Cringing Negativism Network]

Only if it’s made in America.

If so, you bet.

It’s irresponsible to ignore the reality - we need an alternative to oil which enriches people who hate us.

[OCC]

After a $400 million dollar investment of taxpayer money, this is what will end up in the showrooms.

[Fichori]

For $109,000 I could start a small quick turnaround custom manufacturing service.

[ari-freedom]

we should offer a prize for the company that comes up with the best electric car (remember the Robot Car Challenge?) but the govt should not specifically pick Tesla.

[Cringing Negativism Network]

As long as Hugo Chavez isn’t making any profits on my daily commute — I’ll drive one.

[Paleo Conservative]

The Roadster is not much more than a functioning concept car that sells for $109,000

Does it even have air conditioning? There's no way I'd buy any car for getting around town that has no air conditioning considering summer high temperatures where I live are often over 95°F.

[org.whodat]

Someone spent the money to fire the first rocket, and everyone else ran around and said what a waste of money.

[ari-freedom]

how is a car that few will buy, an alternative to oil?

[Sharrukin]

More likely the Pelosi GTxi SS/Rt Sport Edition!

http://iowahawk.typepad.com/iowahawk/2008/11/lemon.html

[org.whodat]

Good thing you were not around a few hundred years ago, you damn sure would have never made it across country behind those smelly old horses. No AC. But then men were men once.

[antonia]

Mr. Gore while morphing into a very secular Old Testament Jeremiah, has been made very rich and famous. His daughter picked up his son from the local police station in her 400 horsepower V-8 Maserati. May be her Daddy could buy her a Tesla Roadster. At least it wouldn't be so abjectly hypocritical considering how Gore got the money to pay for their anti-green life styles.

[mamelukesabre]

It’s irresponsible to ignore the reality - this car is not sensible and you want to use public funds to make more of them.

[ari-freedom]

perhaps, but even they wouldn’t spend over $100k for a smelly old horse with no AC.

[Cringing Negativism Network]

Who said few will buy them?

Are few buying Prius’?

Will few buy the Chevy Volt? (IMHO, GM will be backordered for five years, when they come out next year)

Seriously. Just because gas dropped in price, doesn’t mean we should get stupid all of a sudden, and forget.

That’s how Detroit got in this mess!

[GingerC]

“’s irresponsible to ignore the reality - we need an alternative to oil which enriches people who hate us.”

We have it... it is called ANWR, offshore drilling and shale oil. The shale oil alone in THIS country DWARFS the oil in Saudia Arabia....

but the environmentalist wackos (Obama included) will not let us use it.

[org.whodat]

No, I think he says he's not a Luddite and supports research.

[OCC]

we should offer a prize for the company that comes up with the best electric car

McCain actually put forward a similar idea, except it was for the battery itself.... which makes more sense.

[Paleo Conservative]

Good thing you were not around a few hundred years ago, you damn sure would have never made it across country behind those smelly old horses. No AC. But then men were men once.

I used to run over an hour in 100°F+ weather. It can be over 140°F inside a parked car that is sitting in the sun. Back in the pioneer days, there weren't carriages built anything like today's steel cars with very tightly sealed doors and windows.