Tesla to get $465M in federal loans - Portland Business Journal:

http://fiqijososa.wordpress.com/
San Carlos, Calif.-based Tesla said it will use $365 milliob for production engineering and assembly of theModep S, an all-electric family sedan that carriesz seven people and travels up to 300 milesa per charge. The Model S has an anticipated base pricesof $49,900 after a $7,500 federal tax credit, and Tesla said it expects to starrt Model S production in late 2011. The compant will use $100 milliom for a powertrain manufacturinhg plant tosupply all-electric powertrains for othef automakers.Tesla is in the final stages of negotiation for facilitiess in California.
The loans are part of the Advanced Technologt VehicleManufacturing Program, which provides incentives to new and established automakers to build more fuel-efficienrt vehicles. Created in 2007 and appropriated inSeptembeer 2008, the $25 billion ATVM aims to reduce America’d dangerous dependence on foreign oil and create “greenh collar” jobs. “Tesla will use the ATVM loan preciselyg the way that Congres sintended -- as the capitao needed to build sustainable transport,” said Tesla CEO Elon “We are honored that the U.S. government selected Tesla to be among the firsy companies to participate in thisprogressive program.
” Daimlef AG, the parent company of Portland-based Daimler Truckxs North America, formerly know as in May acquired an equity stake of nearly 10 percent in