Tesla Nabs $465M Government Loan To Build Model S 505
Posted
by
timothy
from the let's-call-it-the-people's-car dept.
from the let's-call-it-the-people's-car dept.
SignalFreq writes "Tesla Motors, based in San Carlos, California, was approved yesterday for $465M in loans from the Department of Energy's Advanced Technology Vehicles Manufacturing program. Tesla plans to use $365M of the money to finance a manufacturing facility for the Model S (review, Letterman video) and $100M for a powertrain manufacturing plant in the SF Bay Area. 'Tesla will use the ATVM loan precisely the way that Congress intended — as the capital needed to build sustainable transport,' said Tesla CEO and Product Architect Elon Musk. Tesla expects the Model S to ship in late 2011 and the base cost to be $57,400 ($49,900 after a federal tax credit). Ford received $5.9B and Nissan received $1.6B under the same program."
Re:More bullshit (Score:5, Funny)
More bullshit courtesy of the U.S. Gubmint!
I know. Just like those silly Interstate highways, the US Marine Corps, the US Postal Service that'll deliver a package of paper to any door in the US within a day or two for an affordable flat fee, and those terribly inefficient and socialized Firefighters and that neo-communist socialized Police Department. Government. Pah! Who needs it?
Re:Model S (Score:5, Funny)
The kind of people who claim that Obama is socialist aren't the kind of people that travel around the globe. Well OK, Gov. Sanford does, but the REST of them...
Re:More bullshit (Score:3, Funny)
Please keep your conspiracy crap off the Internet.
Model Tee Hee Hee (Score:2, Funny)
If they are on "S" now, then the next model in line is "T". The potential confusion cannot be good for marketing. Reminds me of the door company that made a "Commodoor-64".