Report: Tesla requesting another loan from DOE

Tesla Roadster - Tesla Model S

House Republicans want to cut another of Obama’s green-jobs program – one that provides many new start-up electric car makers some finance to get things going. It’s the same program under which Tesla received up to $465 million. That loan has helped Palo Alto electric-car maker open an electric powertrain factory at its headquarters and refurbish the NUMMI plant where it will build the Model S sedan.

The loans have helped Tesla add over 1,000 jobs with another 1,000 expected as production of the Model S ramps up.

Apparently, Tesla is now looking for another loan.

“Tesla has applied for a loan, in our continued mission to make more affordable electric vehicles,” Tesla spokeswoman Khobi Brooklyn confirmed in an e-mail to the Chronicle. She declined to say how much Tesla is seeking or what the loan will be used for.

– By: Omar Rana

Source: SFGate