Tesla Motors Receives Approval for a $465 Million Loan from the Department of Energy: Electric Sedans on Their Way

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.

Tesla Model S electric sedan

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest
Auto Upkeep 4th Edition

Michael Gray

Mike has roots in the automotive service industry. He began diagnosing and fixing cars at a young age in his family’s service station. He has worked in automotive parts supply stores, towing companies, and service facilities. After graduating from St. Cloud State University (MN) with a Bachelor’s degree, he implemented and taught a basic car care program at the high school level. During work on his Master’s degree at Illinois State University (IL), he was a curriculum specialist on a National Science Foundation project where he co-authored ten integrated mathematics, science, and technology books designed for team teaching. Mike has also supervised teachers in Career and Technology Education as a school system administrator.

Call us at 800-918-7323