Print 78 comment(s) - last by fasfdhfd0000.. on Jan 29 at 4:04 PM

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 SandmanWN on 1/21/2010 10:56:08 PM , Rating: 5
Nice cheap shot there. But you aren't pulling a fast one on anybody here. Anyone with a conscience and a decent amount of humility knows the biggest giver in the US is not the government but the people themselves.

The people work through non-profit organizations and local outreaches that go into areas of the world that no government will dare. They are there doing the hard work before, during, and long after any government worker sets foot on the ground.

You aren't Wise, just another Fool with a chip on his shoulder because he doesn't do enough and feels justified in explaining why its ok.

RE: clue me in on this...
By cocoman on 1/22/2010 10:11:38 AM , Rating: 2
I donĀ“t doubt the US is a big player in humanitarian aid. But it is not in the top 10. The report I link includes private aid and government aid. Also the Us is the biggest donor by amount of money, but not per capita or GDP. So if you sum up all the european countries the us falls behind. Or just look at Japan or the UK a fraction the size of the US and its population.

RE: clue me in on this...
By yomamafor1 on 1/22/2010 11:27:42 AM , Rating: 2
Right. How about let's compare the United States against the rest of the world combined? That's gotta be a more accurate method to show how Americans are indeed cheapos! Who cares if they do give the most foreign aid in the world? The only method people use are the aid per capita and aid per GDP!

RE: clue me in on this...
By cocoman on 1/22/2010 1:14:17 PM , Rating: 2
Exactly my point. If you read more carefully that is exactly what I am saying. So read again.
If you don't want to, here it is again:
The US is the biggest donor but not per capita or per GDP. Per capita or GDP is around number 20!

RE: clue me in on this...
By SandmanWN on 1/22/2010 3:42:09 PM , Rating: 3
You can shine that turd of an argument up all you want but its still pitiful at best.

The people of the US are always wary of the government. We often resort to other means of support. Every analysis of the public giving in the US shows it far outdoes anything the government gives.

Which is the real shame as the US government gives more than any country on the planet and the people here give more outside the government, so where does that leave your country? After the people of the US, after the government of the US... I guess shooting for third place is good enough for you.

RE: clue me in on this...
By SandmanWN on 1/22/2010 4:20:39 PM , Rating: 2
The report I link includes private aid and government aid.

Uhm, No it doesn't. And that is pretty much a bold faced lie.

The estimates, and they are estimates, based on what's actually reported to the IRS and the analysis of a number of groups put the public charitable giving of the US people at over 300 Billion.

"I'd be pissed too, but you didn't have to go all Minority Report on his ass!" -- Jon Stewart on police raiding Gizmodo editor Jason Chen's home

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