Tesla MotorsFundraising

$465 million DOE loan

23 Jun, 2009

The US Department of Energy announces approval of $465 million in low-interest loans to the company.  The company says it will spend $365 million on manufacturing the Model S.  The rest of the money will be invested in a new plant that will make battery packs and electrical vehicle parts for Tesla and other automakers, including Daimler.

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