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Tesla Motors Secures DOE Loan for Electric Car Plant
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Department of Energy has closed its $465 million loan with Tesla Motors, Inc. for construction of a manufacturing facility in southern California on the Model S electric sedan and a power-train manufacturing facility in Palo Alto, California.
The Palo Alto facility will assemble electric vehicle battery packs, electric motors, and related electric vehicle control equipment, both for Tesla’s own electric vehicles and for sale to other automobile manufacturers.The agreement was negotiated and signed by the Department’s Loan Programs Office, which supports the development of innovative, advanced vehicle technologies to create thousands of clean energy jobs while helping reduce the nation’s dependence on foreign oil.
Tesla’s planned Model S will consume no gasoline and will not produce any tailpipe emissions. It is being designed to offer a variety of range options depending on the battery pack used, from 160 to 300 miles on a single charge. Volume production of the Model S is planned to begin in 2012 with a target production capacity of 20,000 vehicles per year by the end of 2013.
According to Tesla, the Model S project and power-train manufacturing facility are expected to create over 1,600 jobs.
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Baran
on
24 April, 2012 11:46:20
Currently production catiacpy is 580MM gallons; an additional 1,400MM gallons are expected to be produced within the next 18 months, bringing the total supply around ...
Holly
on
24 April, 2012 11:32:52
Don't worry, the demand for diseel will always be strong, even with stronger conservation measures. The supply, on the other hand, is less assured. ...
Ankita
on
24 April, 2012 04:38:06
For American society at least, we need to find a replncemeat for crude oil products that is more sustainable, but will cause little impact on ...
Sergio
on
23 April, 2012 09:16:09
if you get 200 mpg in a Volt and drive 10000 miles per year fuel cost is 200 bucks at 4.00/gal.another person who has a ...
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16 April, 2012 05:51:01
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