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Feds lend Tesla $465 million to build electric car

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Old Jun 24, 2009 | 05:38 PM
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Post Feds lend Tesla $465 million to build electric car

he Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it. It's one of three loans totaling almost $8 billion that the Department of Energy awarded Tuesday to spur the development of fuel-efficient vehicles.

more --- > Feds lend Tesla $465 million to build electric car - CNN.com
 
Old Jun 24, 2009 | 05:45 PM
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Money well spent if you ask me!
 
Old Jun 24, 2009 | 05:54 PM
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Because an unproven, unprofitable, startup that can't even figure out who their CEO is has to be the best candidate to develop such a device.
 
Old Jun 24, 2009 | 05:56 PM
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Originally Posted by sean
Because an unproven, unprofitable, startup that can't even figure out who their CEO is has to be the best candidate to develop such a device.
I'd rather dump money in a small, unproven car company than a large, proven, unsuccessful car company...
 
Old Jun 24, 2009 | 06:11 PM
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Smartest move yet, I hope they do not drop another nickel into GM and such. Made me throw up when I saw their first commercial about a new beginning to find out they sold Saturn and kept all the fuel pigs, lesson not learned. 10 years from now, GM will be gone or split up into smaller parts.
 
Old Jun 24, 2009 | 06:57 PM
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The dealership is near where I live.

I remember passing by it once and getting on the freeway onramp then doing my usual stunt. I saw a Tesla getting on the freeway looking really fast...

in my rearview mirror.
 
Old Jun 24, 2009 | 07:21 PM
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US is so screwed on spending taxpayer's money on war and bailouts.

$465M is a lot of money for a startup. US should drip feed these companies with subsidy rather than lump sum.
 
Old Jun 24, 2009 | 07:43 PM
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Good news for the Bay Area. They plan is to increase battery production and adding 650 new jobs. That's where the technology is.
 
Old Jun 24, 2009 | 07:48 PM
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USG funding to a company marketing a car that'll cost north of $100k? The average consumer will not be buying the Tesla.
 
Old Jun 24, 2009 | 11:52 PM
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Originally Posted by smokinghot4cars
Good news for the Bay Area. They plan is to increase battery production and adding 650 new jobs. That's where the technology is.

i doubt those jobs are staying in bay area... more like asia
 



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