The disappearance from Albuquerque of the much ballyhooed planned Tesla Motors electric car manufacturing plant drew a question from an apparently unlikely source at last week's Economic and Rural Development Committee meeting in Albuquerque. What happened to the plant, asked Rep. Andy Nunez of Hatch, a farmer. Staff of the New Mexico Partnership, the state's contract recruiting group, gave a sort of a non-answer, mentioning the California-based Telsa is going through reorganization and adding, "We don't win them all."
Nunez then explained his curiosity. He said $5 million of the state infrastructure money promised Telsa had been plucked from a water trust fund and now he hoped the money would be returned.
Economic Development Secretary Fred Mondragon was a bit less generous to Telsa, mentioning the "recent instability of its management" the the New Mexico Business Weekly.
There is more, however. Telsa is a startup company with a brand new technology. This is called "high risk." When they work, such firms are the stuff of legend. Then there was the money that California's state government threw at Telsa.
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