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Tesla Model S  (Source: Tesla Motors)
Let the money flow...

The federal government seems to be quite happy with dishing out money for environmentally friendly ventures, and there are plenty of companies that are willing to take the funds and put them to good use. One such company is Tesla Motors.

Tesla Motors is probably most notable for its sexy all-electric Roadster. The $100,000+ sports car, which is based on the Lotus Elise chassis, has a driving range of 244 miles – one Tesla Roadster, however, was able to travel 313 miles on a single charge -- and can zip to 60 mph in less than four seconds. However, Tesla is looking to take its electric car-building prowess to a somewhat more mainstream audience with its four-door Model S electric sedan.

This is where the federal government steps in to work its magic. According to the Detroit News, Tesla Motors today closed on a deal to secure $465 million in low-cost loans from the Energy Department. The funds will be used to build manufacturing plants in California for the Model S and its powertrain.

The company was originally approved for the loan back in June of 2009. The $465 million will come from the Advanced Technology Vehicle Manufacturing Program which is providing a total of $25 billion to automakers that develop new fuel efficient vehicles. Other notable names to get in on the loans include Nissan ($1.6 billion) and Ford ($5.9 billion).

"This is an investment in our clean energy future that will create jobs and reduce our dependence on foreign oil," said Energy Secretary Steven Chu.

"It will help build a customer base and begin laying the foundation for American leadership in the growing electric vehicles industry. This is part of a sustained effort to develop and commercialize technologies that will be broadly deployed throughout the American auto industry."

As previously reported by DailyTech, the Model S will have a driving range of up to 300 miles and can dash to 60 mph in 5.5 seconds. The fetching sedan weighs in at a portly 4,000 pounds (1,200 pounds of which comes from its lithium-ion battery pack). If all goes according to plan, the base Model S will cost around $50,000 after a government-backed $7,500 tax credit is taken into consideration. For comparison, the Chevrolet Volt is expected to cost in the “low 30s” after the $7,500 tax credit is applied. At that price point, GM still contends that it can make a profit.

The Model S is scheduled to go into production in 2012 and yearly output is pegged at 20,000 units per year.



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RE: clue me in on this...
By mars2k on 1/21/2010 10:20:02 PM , Rating: 1
Good thing you don't have a say on who gets in. Then all we'd have is semi literate nincompoops who are always pissed off at stuff they don't even understand...and are proud of it.
We fought WW2 to save OUR ass you fool.
We rebuilt Europe to save OUR ass retard.
We rebuilt Japan to save OUR ass you stupid goof.
All of the aid that goes overseas is to support OUR interest OUR business OUR political power.
All of the post war bail out that you're talking about was to contain Communism you idiot.
WE have benifited far more as a result of all this stuff than anybody overseas.
Whatever it is that you're reading and mindlessly repeating is wrong..that is if you can read at all.
Next week some other dumb-ss will repeat something stupid and hatefull and you will pick it up and run with it

Good Lord....save us from morons like you CmdrdKook.


RE: clue me in on this...
By safcman84 on 1/22/2010 8:33:16 AM , Rating: 1
I take my hat off to you sir.

As a European (British national living in France, working in Switzerland..... a true european ;) ), it is scary how quickly Americans can confirm the european vision/stereotype of a typical american -of being arrogant, ignorant asses (like CmdrdKook). I wish more Americans like you made their opinion heard - it would save USA's global image.

Yes you did "save" us (or give us a helping hand to save the rest of europe - the Battle of Britain was what stopped Britain being invaded, you helped us liberate the rest), yes you did help rebuild after WW2 but you did it for yourselves as much as us. (we declared war on Japan, so you were "politically" forced to declare war on Germany, and all the other reasons you mentioned).

Thank you for saying it.


RE: clue me in on this...
By SPOOFE on 1/24/2010 1:01:23 PM , Rating: 2
quote:
WE have benifited far more as a result of all this stuff than anybody overseas.

Yes, that is correct: The United States has a history of recognizing that mutual cooperation can be beneficial for all parties involved.

WHY we did it is immaterial. What is important is that it was done.


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