Tesla is Being Taken Seriously
Tesla Model S
Tesla Motors has done what no other independent automotive company has been able to do for decades – secured a conditional government loan to develop their full-size electric car Tesla Model S and to finish the electric motor and components factory.
This loan is a part of an $8 billion scheme introduced by the Obama administration as an incentive to further the development of advanced vehicle technologies. The fact that Tesla got the loan is a big surprise considering that the bear share of the $8 billion – almost three quarters – will go towards improving… gas-guzzlers. Oh, well!
Tesla Motors will get $465 million to get two projects going. $100 million will help them setting up a new factory that would produce electric motors for companies future cars and fulfil contracts for other manufacturers of electric cars. The rest of the money will be ploughed into their most important project – electric car Model S. With the preliminary price tag of around $50,000, great style and luxury interior, Tesla Model S is expected to be a great competitor in the market of alternative cars.
The money is distributed by US Department of Energy within the ATVMP program (Advanced Technology Vehicle Manufacturing program). It is a conditional low interest loan. This marks a beginning of a new automotive era – electric car manufacturer is recognized by the government.
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