By on November 18, 2008

Whilst reporting that U.S. Treasure Secretary Henry “Hank” Paulson is telling the automakers “keep your hands off my $700b stack, Jack,” Fox News reveals that Ford, GM and Chrysler aren’t the only automakers looking to tap into the $25b Department of Energy “retooling” loan program. Tiny Tesla Motors has sent in its application for $400m worth of no to low-interest loans, so it can build more $109k lithium-ion-powered two-seaters with less luggage space than a diva’s jewel-encrusted clutch bag. I kid. I kid. I think. “General Motors, Chrysler and Tesla Motors Inc. have applied for loans and Ford CEO Alan Mulally said the automaker plans to apply on Tuesday. GM, Chrysler and Ford have not disclosed the amount of funding they’re seeking from the Energy Department or for what purposes. Tesla said it was seeking about $400 million in loans for two projects.” Let’s see.. they make one car (the aforementioned Tesla Roadster) and want to make another (WhiteElephant). Is it me, or is there some sort ofinternational conspiracy to keep TTAC in mill grist? [thanks to MgoBlue for the link]

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11 Comments on “Tesla Death Watch 38: Tesla Applies for $400m DOE Loan...”


  • avatar

    The small, nimble, venture-backed guys get to the trough before the geriatric 2.8 (the intended beneficiaries of this bill) do. No surprise there, I guess.

    I can picture the DOE receiving Tesla’s application and saying to themselves, “Who the hell are these guys?”

  • avatar
    Cicero

    If Tesla can get bailout money, then I’d like to try. Are the applications available online?

  • avatar
    Samuel L. Bronkowitz

    Ask not what your country can do for you – ask what you can do for your country.

    Nanny state will not save us as individuals nor will it save our companies. It’s time for GM et. al. to stand up and act like mature adults.

  • avatar
    alex_rashev

    I’d rather have those guys get them millions. At least it’ll go towards creating some rather intriguing rare supercars (DeLorean style), as opposed to stamping out more crap before one of those giant cadavers implodes anyway.

    What amazes me is that Tesla has an actual product, and people are lining up to buy it, but they screwed up the manufacturing logistics and now they are forced to beg for gubement cash just like everyone else. Typically amateurish.

  • avatar
    guyincognito

    And here I thought I’d never get the chance to subsidize a smug celebutard’s next vehicle.

  • avatar
    minion444

    TESLA news release:

    Thanks America for the bailout. We will continue to assemble our foreign made parts and employee a couple of engineers and assemblers….

    Help Wanted

    Transmission designer, willing to work for high tech company. Great benefits, including low interest government loans…

  • avatar
    tesla deathwatcher

    Give me a break. Tesla sucking on the government teat? What a waste of money.

  • avatar

    Typo in the headline, Dear Leader. Must read “DOA Loan.”

  • avatar
    HarveyBirdman

    I thought these loans were limited to companies running 20-year-old factories. Perhaps Tesla just figures it’s going to end up a free-for-all shortly, and thought they might as well save their place in line.

  • avatar

    The perception in Congress is that Tesla is doing things right … Big talking point among Dem leaders.

    Which means that Tesla are reaching for the bowl – with political support.

    Kind of makes you fear for what kind of intelligence apparatus the politicians actually use when making decisions.

  • avatar
    rolosrevenge

    At least Tesla is making a car people want to buy, which is more than we can say for Detroit.


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