DoE giving boost to start-up electric car company
The DoE loan is reported to be $465m. Added to the $50m invested last month by Daimler plus the debt and equity already invested in the company, Tesla now sports a $700m capital war chest. Tesla plans to use $365m of the DoE monies to bring the Model S into production with the remainder going to customer power train development.
The sticker on the Model S should come in around $50k, or roughly half the price of the groundbreaking Tesla Roadster which absorbed all upfront development costs for the sporty little electric car.