AP Reports Tesla seeking $400 million

[green01]

General Motors, Chrysler and Tesla Motors Inc. have applied for loans and Ford CEO Alan Mulally said the automaker plans to apply on Tuesday. GM, Chrysler and Ford have not disclosed the amount of funding they're seeking from the Energy Department or for what purposes. Tesla said it was seeking about $400 million in loans for two projects.

See link below:

The Associated Press: Automakers beg for aid as bailout bill stalls

 

[Sgee]

Tesla said it was seeking about $400 million in loans for two projects.

Im guessing one project would be the construction of the Model S plant. What would the other one be?

 

[graham]

Perhaps beginning work on Bluestar?

 

[Sgee]

I would hope that they would learn from their mistakes. Looking too far ahead at this point in time would not be the brightest thing to do. Maybe the money is to ramp up their powertrain sales.

 

[doug]

Tesla said it was seeking about $400 million in loans for two projects.

Im guessing one project would be the construction of the Model S plant. What would the other one be?

Who knows how they define project. It could be the manufacturing plant and development of the Model S separately.

 

[Kevin Harney]

I would say the 2 projects are the Model S and the New Headquarters Facility

 

[Sgee]

It seems that the amount they are looking for continues to go up. When they first said they were building the plant they said 150 million. Then, after the 100 million in investing fell through, they said 200 million. But now, they say 400 million. Is their business really doing that bad?

 

[doug]

This is a low cost loan. You take as much as you can get.

 

[Kevin Harney]

the 400 Mil is for 2 projects not just the plant. Why not ask for the sky if they are giving money out ...

 

[Kevin Harney]

Doug we must be reading and thinking exactly the same that is 2 posts in a row that we made the same comment LOL

 

[DDB]

I find it a little ironic that gas is selling at about $55 per barrel, which is at it's lowest since I can remember. This at a time when the auto industry is begging for money for developing electric cars. Conspiracy theorists, start your engines.