It was announced yesterday that the United States Department of Energy (DOE) approved a $465 million loan to Tesla Motors – the electric California based automaker currently producing the Tesla Roadster. This loan is to help bring to market (in larger volumes) the Model S electric sedan. The Model S is more practical than the Roadster, with about half the sticker price at $57,400 ($49,900 after the $7500 tax credit). The S will have a 300 mile range, a 45-minute QuickCharge, and will be able to carry five adults and two children.