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Feds lend Tesla some money?

post #1 of 4
Thread Starter 
So it would seem from Wired!  Looks like the Model S will be getting a big boost.

The Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it. It’s one of three loans totaling almost $8 billion that the Department of Energy awarded today to spur the development of fuel-efficient vehicles.

Energy Secretary Steven Chu announced that the Department of Energy is also lending $5.9 billion to Ford to retool factories in five states. Nissan will receive $1.6 billion to refurbish a factory in Tennessee to produce electric cars. The loans are the first awarded under the $25 billion Advanced Technology Vehicle Manufacturing Program to help automakers offset the cost of retooling to build eco-friendlier cars that are at least 25 percent more fuel-efficient than 2005 models.


post #2 of 4
Nice.  Tesla has been saying for a while that they were close to being approved for this loan.  That's really big for their company and ability to manufacture the Model S on a large scale.
post #3 of 4
Its about time that our government invests in our companies so they can grow. The Japanese, Germans and others have been getting
assistance for years from their governments.

This will only help in getting great products like the Tesla S out sooner and to a greater number people. The more they can make the cheaper they can sell them. A win win for everyone.

post #4 of 4
 In assisting Telsa the gov jumped on board with a company that has proven it is going places - now they can grow faster which is fine.

Picking the companies to assist is a minefield. I repeatedly say that at least 90% and maybe 99% of these startups (at earlier stages than Telsa) are doomed to fail. The biggest section in many of the websites is the investors section.

With all the politics involved the selection process becomes vary scary. The average taxpayer has to pay - in the future.

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