9 June 2010

"I'm broke." - Tesla founder

The cars might be fast and popular, but startup electric sports car company Tesla has lost a bunch of money for its founder.

The California-based carmaker charges around $100,000 a pop for its very green vehicles, but the company has lost some $271m since it began in 2007. In the last six months alone, it burnt through almost $45m.

And founder Elon Musk now says he's broke. Even though he sold his previous startup, PayPal, to eBay for $1.5 billion.

In a court filing for a divorce, he said he has been living off loans from friends from October.

Toyota recently announced a link-up with Tesla, to share technologies.