Tesla heading the way of the the Vector and Shelby Series ..

From the NY Times:

Tesla Motors said Wednesday that it will lay off employees and
delay production of its next battery-powered car. The once-hot
electric car start-up also said it was removing Ze’ev Drori as chief
executive and appointing Elon Musk, now the company’s chairman, to the
post.

Mr. Musk, who made his fortune as co-founder of PayPal, announced
the changes in his blog on Tesla’s Web site. He said the company plans
to be cash-flow positive in six to nine months.

“It’s not an understatement to say that nearly every business will
be impacted by what has unfolded in the past weeks, and this is true
for Silicon Valley as well,” Mr. Musk wrote, adding that the company
is at a “critical phase.”

The news comes in the wake of several Silicon Valley venture
capitalists warning start-ups that they must slash expenses and get to
profitability as quickly as possible to cope with the likely
recession. Tesla has had a particularly difficult year, with previous
layoffs, production delays and changes in the executive ranks.

Mr. Drori, who had been chief executive since November, will
remain on the board as vice chairman. Mr. Drori replaced Tesla’s
former chief, co-founder Martin Eberhard, who was ousted in August
2007.

Mr. Musk did not say how many people would be laid off, but Tesla
will close its office near Detroit.

Production of the Model S, which will be Tesla’s second and more
affordable electric car, will be pushed back to mid-2011. In
September, Tesla announced that it would lease 89 acres of land in San
Jose to build a new headquarters and a plant to produce the Model S.
It said then that the car would be on the road in 2010.