Tesla's Electric Sedan, Awaiting Federal Aid. By Claire Cain Miller, NYTimes, March 26, 2009. "Tesla Motorson Thursday unveiled its Model S, an all-electric sedan it hails as the beginning of a generation of fossil-fuel-free cars and a profitable company. But before that happens, the company must find the money to build the vehicle. Tesla is pinning its hopes on Washington and a $450 million government loan. The company expects to hear from the Energy Department this year... Tesla, which was founded in 2003, was heralded as Silicon Valley's solution to the nation's energy problem. If a struggling Detroit could not make an electric vehicle, then a Silicon Valley start-up would. Today, Tesla is facing the same plight as many green-energy start-ups. These huge, capital-intensive projects have been paralyzed by the credit crisis, and their survival depends on federal loans that have only just started to flow."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment