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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 lelias2k on 1/22/2010 4:10:00 AM , Rating: 2
It's easy to remain strong when nobody can touch you... The US was in a great position by being protected by the two biggest oceans in the world. Had the Germans finished the V9 the whole story could have been different.

That said, yes, they helped, but other countries did too.

And to say the US didn't get anything is return is absurd. Go back to the history books and you will know what I'm talking about.


RE: clue me in on this...
By SPOOFE on 1/24/2010 12:56:35 PM , Rating: 2
quote:
It's easy to remain strong when nobody can touch you... The US was in a great position by being protected by the two biggest oceans in the world.

Yes, that is a REASON for why the US was so instrumental in the war effort. That also explains why the US was so crucial to the rebuilding effort, as well: It was pretty much the only industrialized country essentially untouched (property and material-wise) after the war. That's also why the US was in such a prime position to rise as a superpower, when prior to the World Wars it was still a fairly minor player on the global stage.


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