Tesla and the Department Of Energy recently announced that the California Electric Vehicle maker will get two loans totaling $465 million from the Advanced Technology Vehicle Manufacturing program (ATVMP). $100 million will be used to set up an electric powertrain manufacturing plant to provide components such as motors and battery packs to other automakers.
The majority of the money, $365 million, is allocated for production engineering and a factory to build the Model S. Both factories are expected to be built in existing facilities and Tesla is in negotiations for locations in California. Tesla hopes to start production of the sedan by the end of 2011.
September 3rd, 2010 at 3:05 am
It amazes me when people tell me that “MY adjuster said he/she would pay a certain amount of dollars for my total home loss. But the value of my home is more than what the adjuster is now saying he/she will pay me. What can I do?” LISTEN TO THIS, and I say this kindly, THAT ADJUSTER DOES NOT WORK FOR YOU!!!! Don’t get confused about who is working for whom, because they WANT you to “feel” that they are looking out for your best interest, when they really are NOT.