Lotus Enters Deal To Help Tesla Fix Production Gap
Tesla Motors has extended an agreement with Lotus to help them fix a production gap with the Roadster motor vehicle. Tesla registered for a $100 million IPO in January, but could have faced a one year shutdown of production due to tooling changes with a supplier.
Lotus provides Tesla with “gliders,” partially assembled vehicles without the electric powertrain. The current deal with Lotus was set to expire in March 2011 with a supply of 1,700 gliders. The new deal will give Tesla at least 2,400 gliders. And the agreement has been extended until December 2011. [Reuters]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry