Tesla Motors

Tesla Motors34 posts

Tesla Motors, Inc., is a California-based company that builds electric cars, batteries and powertrains. It was founded in 2003 and initially financed by Martin Eberhard and Marc Tarpenning. Elon Musk became its chairman a year later and, in 2008, its CEO. The company produces the Roadster all-electric sports car and the Model S premium sedan. It has over 50 stores in North America, Europe, Asia and Australia. The company also works closely with Panasonic in battery research and development and makes electric vehicle powertrain components for other automakers, as well as battery packs for Freightliner Trucks.

23 Jun, 2009

$465 million DOE loan

Fundraising

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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