While fans of electric vehicles were largely ecstatic to see Tesla's application for a low cost loan under the Advanced Technology Vehicle Manufacturing program approved a few months ago, not everyone was. Some people were skeptical about giving so much money to a startup with potentially shaky finances. Tesla VP of Business Development Diarmuid OConnell has written a post on the company blog about what Tesla plans to do with the money.
It's been known since long before the DOE approved the loan that the money would be used to complete development of the Model S and build a plant to produce it. Some of the money will also go toward a separate powertrain plant to produce motors, electronics and batteries for the car.
What was new in OConnell's post was this statement:
It shouldn't come as a surprise that Tesla realizes that it will need a more fleshed out lineup in order to reach long-term viability and the idea of a crossover has been mentioned in the past. This, however, appears to be the first reference of a van and minivan version of the platform, and can only mean good things for all those EV fans.The Model S platform will also be used for derivatives including a minivan, cross-over utility vehicle and a utility van for fleets and other industrial or civic uses.