Vehicles

Tesla May Ramp Up Electric Luxury Car Production

Posted on February 17, 2009 by LCT Staff - Also by this author - About the author

SAN JOSE, Calif. - Tesla Motors may be able to ramp up production of its electric cars if a $450 million government loan comes through as expected, the company’s chief executive officer indicated recently.

According to the San Jose Mercury News, in a newsletter to customers, CEO and chairman Elon Musk wrote, “I am excited to report that the Department of Energy informed Tesla last week that they expect to disburse funds … within four or five months.”

San Carlos, Calif.-based Tesla did not say its loan application had been approved. The San Jose Mercury News reported an Energy Department spokeswoman said the agency “has made no final decisions for specific applications for the auto-loan program.”

Tesla has requested $350 million toward retrofitting a factory to craft its Model S electric sedan and $100 million for making batteries.

Tesla has more than 1,000 customers on a waiting list for the $109,000 Tesla Roadster, a two-seat electric vehicle. Although only 200 roadsters have been produced thus far, Musk said it’s “highly likely” Tesla will become profitable by midyear, according to the article.

Source: Environmental Leader

View comments or post a comment on this story. (0 Comments)

More News

40 Passenger Coach Party Bus Has Low Miles

Vehicle Pick of the Week: This Temsa TS 35 mid-size motorcoach limo can take big groups out on the town.

Volvo S90 Builds On A Classic Legacy

Vehicle Review: Luxury is the order of the day here. Legroom was stupendous.

SUV Faceoff: Mercedes-Benz Vs. Range Rover

Vehicle Review: As two automotive editors prove, it's an unwinnable contest.

MCI Owner Reports Upbeat Results For 2Q

The company is investing in MCI's facilities and harmonizing its I.T. systems with those of New Flyer.

Spacious, Quiet, Comfortable Sums Up Continental

Vehicle Review: Not shared with any Ford models, this body is a unique Lincoln exclusive.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - August 2017 $12.95 MILLENNIALS/FAST 40 ISSUE COVER STORY: * How to Score & Keep The Best Young Talent * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close