Tesla CEO says carmaker is bouncing back

Tesla Motors CEO Elon Musk laid the blame today on the tumultuous financial market for the electric carmaker’s recent woes but said the company is now ready to weather the economic conditions.

“Today Tesla is in pretty good shape, actually,” Musk said.

Tesla said last week it planned to lay off workers and delay the production of its electric Model S sedan by about six months (see But... doesn't a superhero need arch enemies? and Cleantech deals in garbage, lighting and batteries).

Musk said today it wasn't the best time to raise private capital for its new factory in San Jose, saying it was “impossible to raise money at advantageous terms” because several investors backed out.

Tesla now plans to wait for the results of an environmental impact assessment to determine whether Tesla qualifies for a $100 million U.S. Department of Energy loan guarantee for the balance needed to build the $250 million plant in San Jose (see Tesla to build factory, new HQ in San Jose).

Musk also said the company has made missteps with technology and suppliers. Tesla now plans to focus on making its electric Roadster profitable and improving the range of its lithium-ion batteries, Musk said at the Dow Jones Alternative Energy Innovations conference in Redwood City, Calif.

Musk took over as CEO last week from Ze’ev Drori, now company vice chairman, who became CEO in December (see Eberhard out, Drori in at Tesla).