Tesla to Receive Goverment Money to Build Electric Cars

If you thought that Tesla Motors hadn’t hit the big time, that it was just a fringe, even infant car company next to the big boys like Ford, GM, or Toyota, today’s bit of news might help change that notion. Like the major automakers, it too will now receive government funding.

Dozens of auto companies, suppliers, and battery makers have sought a total of $38 billion from a federal loan program to develop fuel-efficient vehicles, an AP article reported this morning. Alongside Ford and Nissan, two automakers that have EVs in the pipeline that will also get government funding in this new proposal, Tesla will receive roughly $465 million to build electric drive trains and vehicles.

“By supporting key technologies and sound business plans, we can jumpstart the production of fuel-efficient vehicles in America,” US Energy Secretary, Steven Chu said. Though, as Chu later alludes to, this will definitely help create more jobs and hopefully reduce our dependence on fossil fuels and our nation’s greenhouse gas emissions, it also begs the question if this is the best use of the money…. – CLICK HERE to Continue Reading and Comment

Source: http://www.TriplePundit.com: Tesla to Receive Goverment Money to Build Electric Cars