News
Tesla’s $40M loan that kept the lights on, and what it teaches all of us
Oftentimes, many of us forget to look around and realize how fortunate we are to have what we have. In times where tensions are relatively high based on the current election, a pandemic, and a string of bad luck that we have all seemed to adopt throughout 2020, there are a few appropriate moments that allow us to look back and realize how truly grateful we should be, even when things aren’t looking very promising.
A perfect example of this came earlier this week on November 3rd. On that day, just twelve short years ago, we were reminded that Tesla secured a $40 million loan that kept the lights on and gave the small and unlikely-successful automaker a chance to succeed. It was “the last hour of the last day possible,” CEO Elon Musk said on Twitter. “We were 3 days away from bankruptcy.”
The story of Musk and Tesla’s near destruction twelve years ago puts a lot into perspective. For me, it is reminiscent of an old saying, “It ain’t over until the fat lady sings.” While comical, it is true, and it shows that anything can happen while there is still time.
Musk and Tesla were trying to build a car company in arguably the most challenging time for American auto in the country’s history. Numerous companies were seeking government assistance to keep their doors open, jobs were disappearing, and the once-roaring American economy was crippled by the Financial Crisis of 2008.
Not only was it one of the worst times financially to start a car company, but Tesla wasn’t aiming to build a run-of-the-mill gas car. It wanted to completely change the tune of what a car was in the United States. Battery-powered cars were not popular, nor were they widely accepted. They were a dream of many, but never did anyone think they would be a successful passenger transportation source shortly.
Well, everyone but Elon Musk and his team of engineers at Tesla.
Musk acknowledges the hardships of the time head-on. “Extremely difficult to raise money for an electric car startup (considered super quirky back then), while stalwarts like GM & Chrysler were going bankrupt,” he added to his chain of Tweets regarding the situation. And while he was suffering to keep Tesla’s lights on, Musk concluded that the only way would be to put the last of his money into the failing company. “I put in my last money, even though I thought we would still fail. But, it was either that or certain death for Tesla.”
Fast forward a few years to 2017. Tesla is doing well, but it’s working to ramp up the mass-production efforts of the Model 3. Finally, an EV that can fit the budgets of many people worldwide, Tesla was working to create a battery-powered car that had good performance and acceptable range ratings. But it wasn’t easy, and it almost resulted in the company going bankrupt.
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When asked about the Model 3 ramp, Musk said that Tesla was “about a month” away from going broke once again. “The Model 3 ramp was extreme stress & pain for a long time — from mid-2017 to mid-2019. Production & logistics hell,” Musk added.
A few more years forward: let’s look at 2020.
Tesla is the most valuable car company in the world. It has recorded five straight profitable quarters. It is coming off of the most deliveries and production numbers for a quarter ever. It is building more Gigafactories.
Most importantly, Tesla is influencing the automotive industry. Companies that never believed in EVs are being forced to develop them. If they don’t, they’ll inevitably fall behind.
Through all the tough times and adversity that Tesla faced, it always came through. An unlikely competitor entering a market with new technology in a time when companies were hellbent on keeping their doors open by any means necessary, Tesla somehow survived.
In times where the country is almost equally divided on who they would like to run the United States for the next four years, conflicting opinions on a global pandemic are voiced regularly, and other social issues are talked about daily, it is always important to remember stories like these. With almost a negative chance of winning, Tesla somehow pulled through on two separate occasions. Patience, hard work, and a little bit of luck took the unlikely car company from the depths of Chapter 11 to superstardom in the car industry.
If this is the only bit of positivity you read this week, I truly hope it helps you realize how grateful you should be in the grand scheme of things. Sometimes, the cards just aren’t in your favor, and you have a few downswings that make you question whether what you are doing is the right thing. The dark times certainly are tough, but without darkness, then the light would mean nothing to us.
I use this newsletter to share my thoughts on what is going on in the Tesla world. If you want to talk to me directly, you can email me or reach me on Twitter. I don’t bite, be sure to reach out!
Tesla has landed a massive deal to expand its charging infrastructure for heavy-duty electric trucks — and not just theirs, but all manufacturers.
Tesla entered an agreement with Pilot Travel Centers, the largest operator of travel centers in the United States. Tesla’s Semi Chargers, which are used to charge Class 8 electric trucks, will be responsible for providing energy to various vehicles from a variety of manufacturers.
The first sites are expected to open later this Summer, and will be built at select locations along I-5 and I-10, major routes for commercial vehicles and significant logistics companies. The chargers will be available in California, Georgia, Nevada, New Mexico, and Texas.
Each station will have between four and eight chargers, delivering up to 1.2 megawatts of power at each stall.
The project is the latest in Tesla’s plans to expand Semi Charging availability. The effort is being put forth to create more opportunities for the development of sustainable logistics.
Senior Vice President of Alternative Fuels at Pilot, Shannon Sturgil, said:
“Helping to shape the future of energy is a strategic pillar in meeting the needs of our guests and the North American transportation industry. Heavy-duty charging is yet another extension of our exploration into alternative fuel offerings, and we’re happy to partner with a leader in the space that provides turnkey solutions and deploys them quickly.”
Tesla currently has 46 public Semi Charger sites in progress or planned across the United States, mostly positioned along major trucking routes and industrial areas. Perhaps the biggest bottleneck with owning an EV early on was charging availability, and that is no different with electric Class 8 trucks. They simply need an area to charge.
Tesla is spearheading the effort to expand Semicharging availability, and the latest partnership with Pilot shows the company has allies in the program.
The company plans to build 50,000 units of the Tesla Semi in the coming years, and with early adopters like PepsiCo, DHL, and others already contributing millions of miles of data, fleets are going to need reliable public charging.
🚨 Pilot working with Tesla to install and expand Semi Chargers is a perfect example of two industry leaders working together for the greater good.
As more commerce companies expand into EVs, Semi Charger will be more commonly available for electrified fleets, making efforts… pic.twitter.com/VPLIYyq15b
— TESLARATI (@Teslarati) January 27, 2026
Tesla is partnering with other companies for the development of the Semi program, most notably, a conglomeration with Uber was announced last year.
Tesla lands new partnership with Uber as Semi takes center stage
The ride-sharing platform plans to launch the Dedicated EV Fleet Accelerator Program, which it calls a “first-of-its-kind buyer’s program designed to make electric freight more affordable and accessible by addressing key adoption barriers.”
The Semi is one of several projects that will take Tesla into a completely different realm. Along with Optimus and its growing Energy division, the Semi will expand Tesla to new heights, and its prioritization of charging infrastructure.
Elon Musk
Elon Musk’s Boring Company opens Vegas Loop’s newest station
The Fontainebleau is the latest resort on the Las Vegas Strip to embrace the tunneling startup’s underground transportation system.
Elon Musk’s tunneling startup, The Boring Company, has welcomed its newest Vegas Loop station at the Fontainebleau Las Vegas.
The Fontainebleau is the latest resort on the Las Vegas Strip to embrace the tunneling startup’s underground transportation system.
Fontainebleau Loop station
The new Vegas Loop station is located on level V-1 of the Fontainebleau’s south valet area, as noted in a report from the Las Vegas Review-Journal. According to the resort, guests will be able to travel free of charge to the stations serving the Las Vegas Convention Center, as well as to Loop stations in Encore and Westgate.
The Fontainebleau station connects to the Riviera Station, which is located in the northwest parking lot of the convention center’s West Hall. From there, passengers will be able to access the greater Vegas Loop.
Vegas Loop expansion
In December, The Boring Company began offering Vegas Loop rides to and from Harry Reid International Airport. Those trips include a limited above-ground segment, following approval from the Nevada Transportation Authority to allow surface street travel tied to Loop operations.
Under the approval, airport rides are limited to no more than four miles of surface street travel, and each trip must include a tunnel segment. The Vegas Loop currently includes more than 10 miles of tunnels. From this number, about four miles of tunnels are operational.
The Boring Company President Steve Davis previously told the Review-Journal that the University Center Loop segment, which is currently under construction, is expected to open in the first quarter of 2026. That extension would allow Loop vehicles to travel beneath Paradise Road between the convention center and the airport, with a planned station located just north of Tropicana Avenue.
News
Tesla leases new 108k-sq ft R&D facility near Fremont Factory
The lease adds to Tesla’s presence near its primary California manufacturing hub as the company continues investing in autonomy and artificial intelligence.
Tesla has expanded its footprint near its Fremont Factory by leasing a 108,000-square-foot R&D facility in the East Bay.
The lease adds to Tesla’s presence near its primary California manufacturing hub as the company continues investing in autonomy and artificial intelligence.
A new Fremont lease
Tesla will occupy the entire building at 45401 Research Ave. in Fremont, as per real estate services firm Colliers. The transaction stands as the second-largest R&D lease of the fourth quarter, trailing only a roughly 115,000-square-foot transaction by Figure AI in San Jose.
As noted in a Silicon Valley Business Journal report, Tesla’s new Fremont lease was completed with landlord Lincoln Property Co., which owns the facility. Colliers stated that Tesla’s Fremont expansion reflects continued demand from established technology companies that are seeking space for engineering, testing, and specialized manufacturing.
Tesla has not disclosed which of its business units will be occupying the building, though Colliers has described the property as suitable for office and R&D functions. Tesla has not issued a comment about its new Fremont lease as of writing.
AI investments
Silicon Valley remains a key region for automakers as vehicles increasingly rely on software, artificial intelligence, and advanced electronics. Erin Keating, senior director of economics and industry insights at Cox Automotive, has stated that Tesla is among the most aggressive auto companies when it comes to software-driven vehicle development.
Other automakers have also expanded their presence in the area. Rivian operates an autonomy and core technology hub in Palo Alto, while GM maintains an AI center of excellence in Mountain View. Toyota is also relocating its software and autonomy unit to a newly upgraded property in Santa Clara.
Despite these expansions, Colliers has noted that Silicon Valley posted nearly 444,000 square feet of net occupancy losses in Q4 2025, pushing overall vacancy to 11.2%.
Tesla lands massive deal to expand charging for heavy-duty electric trucks
Elon Musk’s Boring Company opens Vegas Loop’s newest station
