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Advanced Technologies Vehicle Manufacturing Loan Program

Tesla Motors

Tesla Motors - Infographic
Location:
Fremont, CA
Eligibility:
ATVM
Annual Gasoline Displaced 5,870,000 gallons
Annual Avoided CO2 52,000 tons
Jobs permanent 1,500
Annual Cars off the Road 11,000
Loan Amount $465 million

Snapshot

In January 2010, the Department of Energy closed a $465 million loan arrangement with Tesla Motors, Inc. to produce specially designed, all-electric plug-in vehicles; and to develop a manufacturing facility to produce battery packs, electric motors, and other powertrain components that will power specially designed vehicles.

Innovation

Tesla’s Model S is the first zero-emission, zero-gas, full-size electric vehicle on the market.  In addition, Tesla will produce battery packs, electric motors, and other powertrain components that will power all-electric, plug-in vehicles (not only Tesla’s, but also other vehicle manufacturers, such as Daimler and Toyota).

Development

The company’s operations provide for more than 1,500 permanent employees.

Impact

The Department of Energy’s investment in Tesla supports the commercial-scale deployment of advanced technologies that help keep American auto manufacturers competitive in the growing global market for advanced vehicles.
 

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