By Robert Farago
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]
Subscribe to New Content Alerts11 Comments on “ Tesla Death Watch 38: Tesla Applies for $400m DOE Loan ”
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POWERED
November 18th, 2008 at 2:36 pm
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?”
November 18th, 2008 at 2:54 pm
If Tesla can get bailout money, then I’d like to try. Are the applications available online?
November 18th, 2008 at 3:21 pm
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.
November 18th, 2008 at 3:50 pm
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.
November 18th, 2008 at 4:00 pm
And here I thought I’d never get the chance to subsidize a smug celebutard’s next vehicle.
November 18th, 2008 at 5:24 pm
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…
November 18th, 2008 at 9:38 pm
Give me a break. Tesla sucking on the government teat? What a waste of money.
November 18th, 2008 at 10:33 pm
Typo in the headline, Dear Leader. Must read “DOA Loan.”
November 19th, 2008 at 1:08 am
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.
November 19th, 2008 at 4:05 am
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.
November 21st, 2008 at 11:34 pm
At least Tesla is making a car people want to buy, which is more than we can say for Detroit.