Tesla: here's why the DOE's $465 million helped; we'd like some more

On September 23, the Republican-controlled U.S. House of Representatives voted to approve (291-in-favor, 27-against) a stopgap bill that cuts $1.5 billion from the Department of Energy's Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The bill, say the Democrats who opposed it, could result in the loss of up to 10,000 jobs and put up to ten automotive companies in jeopardy of losing out on funds needed to develop advanced technologies.

Tesla Motors, an automaker that received a $465-million AVTM loan back in June of 2009, is speaking out against the cut by listing the impact that the DOE money had on Tesla's job creation and accelerating the development of electric vehicle technology. Tesla says that the AVTM loan is helping with Model S development and the company's electric powertrain-development partnerships with Mercedes Benz/Daimler and Toyota. Then there's this:
Prior to receiving the ATVM loan, Tesla employed 400 people. Since the loan's closure, we have purchased the former NUMMI plant in Fremont, CA. With Tesla's continued expansion at its headquarters in Palo Alto, the opening of new markets around the world, and the recent acquisition of the Tesla Factory in Fremont, Tesla has added over 1,000 new jobs. We project the addition of another 1,000 in the coming year.
Tesla argues that receiving initial funds from the U.S. government was what jump-started the automaker's electric revolution. But it's apparently not enough. Reports claim Tesla is now seeking additional money from the U.S. government to "build increasingly affordable electric vehicles."

Share This Photo X