Any news on the federal loan?

[Cobos]

Shouldn't there be signs of the loans by now? Wasn't there in March when Chu said he would make sure they would hurry with getting through the applications? I'd really like Tesla to start building prototypes and getting their factory up and running

Cobos

 

[Palpatine]

I recall them saying they expect news about the loans during May.

 

[Cobos]

Well this IS May, me impatient, not at all.....

Cobos

 

[AnOutsider]

I'm sure they didn't mean first day/week of May

 

[stopcrazypp]

Shouldn't there be signs of the loans by now? Wasn't there in March when Chu said he would make sure they would hurry with getting through the applications? I'd really like Tesla to start building prototypes and getting their factory up and running

Cobos

I didn't hear of any other applicant announcing loan approval either so who know when it'll happen.

 

[TEG]

Aside from Solyndra.

 

[stopcrazypp]

Aside from Solyndra.

Looks like that's a different loan, "American Recovery and Reinvestment Act" from the article.

I don't think anyone under the AVTM loan got approval yet.

 

[Arnold Panz]

"Quick approval" from the government probably meant several months. The loan is key, obviously, but we can't hold our breath because it could be awhile. The DOE has got a lot of hoops to jump through before they can give out the loan money, even if they're trying to do it on an expedited basis.

 

[Ripper]

I was at the LA Tesla dealership yesterday and asked them the status of the federal loan. The rep I talked to was intentionally vague about giving specific info. He did smile at me though and said "we expect some good news real soon." I suppose that is what one would expect from a Tesla rep but I do think he was genuinely expecting something soon.

 

[TEG]

It does seem like some big news is coming very soon.
See this

 

[Ripper]

And Tesla isn't the only one waiting in the DOE loan line:

We’ve applied for a Department of Energy grant. If that loan comes through, we’ll have this vehicle on the road in 29 months,” Fisker told The Oakland Press.

 

[Cobos]

When was that posted? 29 months from today puts it at 5 months after the Model S?

Cobos

 

[Ripper]

This was an article in the May 13 Oakland Press.
Fisker CEO has plans for smaller electric car in 2010 - The Oakland Press Business: The best place for news in and around Oakland County

 

[dpeilow]

This was covered in another thread weeks ago. Please keep this thread to the Tesla loan situation.

 

[Cobos]

I thought I'd give this one a little bumb.
Any more news on the loan, May came and went and we've still not heard anything.

Even though this a 1000pages application it can't take that long to go through it ?

Cobos

 

[Arnold Panz]

I thought I'd give this one a little bumb.
Any more news on the loan, May came and went and we've still not heard anything.

Even though this a 1000pages application it can't take that long to go through it ?

Cobos

I read somewhere (sorry, no link -- can't remember source) that all the loan applications were due at the end of this month for loans under the program, and they expected decisions in July.

I think/hope that because TM had its application in so early that they got "informal" approval for its loan from people at the DOE, but they need to wait for the application period to close and a reasonable amount of time to pass before beginning formal approvals. This would explain the super-confidence that Tesla (and Elon in particular) have shown in their belief that they loan is forthcoming.

 

[vfx]

I heard a month ago that today would be the X GM day. I would have posted but I did not know my new source was so reliable.

So if it has been know that today was the big shakeup day then maybe there has been a purposeful delay of the loan announcement news until after the dust settles.