Talk about being invested in your work. Elon Musk, CEO of electric automaker Tesla Motors, has announced that he will personally guarantee the buyback value of his company’s Model S electric sedans — even if Tesla goes the way of the DeLorean. “Even if Tesla is unable to honor it, I will personally do so. That’s what I mean by putting my money where my mouth is,” Musk told reporters in a conference call. Starting at $62,400 with a $7,500 Federal Tax Credit, the Model S has been a pricey gamble on a fledgling technology. The luxury electric sedan was recently named the 2013 Green Car of the Year at the New York International Auto Show. Tesla’s new financing program for the car involves down payments financed by Wells Fargo and U.S. Bank, allowing drivers to put no money down in a lease-to-own scenario. The monthly cost is still nothing to scoff at, with Tesla’s website pegging the pre-sales-tax price at $1,051 per month. Tesla estimates that although the car still has a high cost, “the savings from using electricity instead of gasoline, depreciation benefits, and other factors” leave the net cost around $500 per month. Lessees will be allowed… Read full this story
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