Tesla’s $465 million fed loan for Model S EV plant secured
Expected in 24 – 30 months
Today Tesla secured its $465 million federal loan to produce the Model S electric car.
By the end of 2013, Tesla hopes to begin producing about 20,000 Model S electric sedans per year. With around 300 miles of EV range, the Model S is expected to cost about $50,000 after a $7500 tax credit.
Tesla also expects the loan to lead to the creation of at least 1,600 jobs.
