Fairly negative article about Tesla applying for part of the $25 billion dollar loan.
http://www.nytimes.com/2008/11/30/business/30digi.html?_r=1
http://www.nytimes.com/2008/11/30/business/30digi.html?_r=1
The program is intended to encourage automakers to improve fuel efficiency, but should it be used for a purpose like this, as the 2008 Bailout of Very, Very High-Net-Worth Individuals Who Invested in Tesla Motors Act? Can you conceive any way that federal dollars could be put at greater risk — and for no equity in return, keep in mind — to benefit fewer people?
Tesla Motors, a privately held company based in San Carlos, Calif., has spent almost all of the $145 million in capital it has raised to date. It says it will soon receive another round of $40 million from its private investors to sustain operations.