Feds Lend Tesla $465m For Electric Car

CNN.com, CNN
Wed, 06/24/2009 - 6:17am

The Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it. It's one of three loans totaling almost $8 billion that the Department of Energy awarded Tuesday to spur the development of fuel-efficient vehicles.

Sections: news politics business

Topics: auto industry auto industry bailout bailouts barack obama electric cars federal aid fuel-efficient green obama administration tesla

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